MWSC Reports Profit Surge in Q1

According to the latest figures released by MWSC, the company's net profit for Q1 of the previous year stood at USD 2.3 million. However, this year, the profit surged to USD 5 million, marking a notable increase of USD 3 million.

Although MWSC experienced a slight decrease in revenue compared to both Q1 of last year and this year, the company's profitability remained steady. Last year, MWSC recorded revenue of USD 24 million, while this year it decreased to USD 22 million. Nevertheless, the company achieved a substantial profit in the first quarter of this year, totaling USD 12 million, with an operating profit of USD 6.2 million.

MWSC serves as the primary provider of water and sewerage services in the Greater Male' Region and extends its services to three islands for water and sewerage, as well as to one island for electricity in the Maldives.