MACL Generated A Revenue of MVR 1 Billion With A Net Profit of MVR 314 Million In Q1 of 2021
According to performance analysis of the first quarter of 2021, all segments of the Maldives Airports Company Limited earned a greater revenue with the overall increase in air traffic.
MACL earned a revenue of MVR 1.04 Billion with a gross profit of MVR 667 million.
The company achieved a 201% increase in net profit in comparison to the previous quarter with a net profit of MVR 314 million.
With a 125% increase, duty-free sales achieved the highest growth with aero sales, fuel sales, and other aero revenue achieving a notable growth.
During this quarter, air traffic movements in the airport increased by 74%.
In conclusion to the analysis, the privatization and corporatization board recommended MACL to monitor financial risks associated with loans as the company has been taking significant borrowings.