According to MTCC ’s report for the last quarter, business trades of MVR 264.8 million (USD 17.3 million) pulled in a total profit of MVR 49.2 million (USD 3.2 million) . Statistics show that MTCC received MVR 45.8 million (USD 2.99 million) as net profit for the second quarter. MTCC Third Quarter highlights Tax paid – MVR 5 million (USD 327k) Government subsidy received – MVR 13.1 million (USD 856k) Total profit – MVR 49.2 million (USD 3.2 million) The company said their revenue for the third quarter had an increase of eight percent compared to the second. However, their maintenance profit dropped by 34 percent from the second quarter. MTCC cited as the reason for this drop the huge projects they conducted for the occasion of Independence 50 as partners of the country’s physical development, in contrast to the smaller scale low profit projects they took on during the third quarter. According to MTCC, their net profit after tax slash equals MVR 28.78 million (USD 1.88 million) , while the income per share was MVR 115.13 (USD 7.53) for the last quarter. Among the company's achievements for the last quarter, MTCC cited the musical fountain they built on occasion of Independence 50 under their Corporate Social Responsibility (CSR) programme, the completion of Izzudheen Faalan (jetty), and concluding the harbour development projects of Haa Alif atoll Vashafaru island and Gaafu Alif atoll Dhevvadhoo island. MTCC also highlighted the commencement of capital Male’s west coast development.