MWSC receives profit of MVR 217 million

Male' Water and Sewerage Company (MWSC) has received MVR 217 million in profit last year.

As per statistics shared by the Auditor General's Office, this is MVR 103 million more than the previous year, marking a 90 percent increase.

This is the highest profit the company has reached in the past three years.

MWSC's revenues last year were at MVR 1.6 billion. This is MVR 100 million higher than in 2023. The company credits its increase in profits to significant lowering of costs. Direct expenditures were brought down from MVR 1 billion to MVR 935 million. Operational expenses were also significantly reduced.

Last year, MWSC spent MVR 62 million on debt repayment. This is 15 percent higher than the previous year.

The company has nearly 1,200 employees, with staff costs accounting for 16 percent of its total expenses.