Maldives Transport and Contracting Company (MTCC) has posted record profits for second quarter of this year.

MTCC earned MVR 24 million in profits compared to MVR 5.8 million in the first quarter. This is about a 321 percent increase.

The second quarter reports state that MTCC earned MVR 341.6 million, while MVR 306.9 million was reported in the first quarter.

Last year the company passed to disbursed MVR 24 per share.

The results for the quarter improved as five major projects carried out by the company had concluded. The company is currently carrying out 61 projects.