An extreme increase in employee salary expenses has driven Kulhudhuffushi Port Limited's (KPL) losses up to MVR 12.3 million. 

Figures from the Audit Office show that last year, Kulhudhuffushi Port Limited's losses increased by nine percent compared to the previous year. The company incurred a loss of MVR 11.3 million in 2024.

The company, which operates under MPL, generated MVR 11.9 million in revenue last year. However, the company's expenditures reached MVR 25 million. The largest expense was incurred on the company's employee salaries. Salaries alone accounted for an expenditure of MVR 13.8 billion, which is approximately a three percent increase compared to the previous year.

Kulhudhuffushi Port is a company that has been operating at a loss since its inception. However, the company's losses have doubled over the past two years. The company incurred a loss of MVR 6.6 million in 2023. 

While the company's losses doubled, employee expenditures increased by 15 percent during that same period.

Kulhudhuffushi Port Limited was established in 2009. Since then, the cumulative losses incurred by the company across various years exceed MVR 90 million.