MTCC aims to generate MVR 3b revenue, MVR 300m profit
The company expects to generate that amount of revenue by the end of this year, he said.
By
Aishath Fareeha Abdulla
MTCC CEO and Managing Director Adam Azim has said that the company aims to increase its revenue to MVR 3 billion and net profit to MVR 300 million.
MTCC is working to increase its revenue to MVR 3 billion, Azim told reporters after the annual general meeting of the company held on Thursday.
The company is already undertaking projects worth MVR 5 billion.
"From MVR 1 billion, we have taken the revenue to MVR 2.4 billion in three years... So in three years we have taken [revenue] up by more than another billion," he said.
The company expects to generate that amount of revenue by the end of this year, he said.
MTCC saw revenue of MVR 2.47 billion in 2022. This was the highest revenue year in the company's history.
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Profit before tax stood at MVR 229.15 million
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Net profit stood at MVR 196 million, but this is less than last year; the reason is that the price of goods rose and the amount spent on procurement of goods needed for the company's various projects increased
