State Trading Organization (STO) reports a quarterly net profit of MVR150 million for the first quarter of 2022.
According to the largest state-owned enterprise (SOE) in the country, net profit earning of STO indicates a 13.5% increase from the previous quarter during which net profits were held at MVR131 million.
Moreover, during the review quarter the enterprise earned a total revenue of MVR4.0 billion, which is a 24.0% bump in total earnings compared to the preceding Q4-2021 during which revenues had reached MVR3.3 billion.
Meanwhile, STO spent a total of MVR278 million on expenditures during the review quarter, which indicates slight increment in spending as it was recorded at MVR253 million in Q4-2021.
STO, which is a public limited corporation and listed in the Maldives Stock Exchange has 919,869 government shares and 207,041 public shares.