MWSC Reports First-Quarter Profit Surge, Net Profits Double to USD5 Million

Male’ Water and Sewerage Company Private Limited (MWSC) has reported a significant increase in first-quarter profits this year compared to the same period last year, with net profits rising from USD2.3 million to USD5 million.

However, this year witnessed a significant upturn, with profits soaring to USD5 million, reflecting an impressive increase of USD3 million.

Despite a slight decrease in revenue compared to both the first quarters of last year and this year, MWSC has maintained its profitability. Last year, the company recorded revenue of USD24 million, which dipped slightly to USD22 million this year. Nevertheless, MWSC managed to achieve a substantial profit in the first quarter of this year, amounting to USD12 million, with an operating profit of USD6.2 million.

MWSC plays a crucial role as the primary water and sewerage provider in the Greater Male’ Region. Additionally, it extends its services to three islands for water and sewerage purposes, and to one island for electricity in the Maldives.