State Trading Organization (STO) generated an annual total of MVR18.2 billion in revenues for 2022, the company had earned just MVR10.2 billion in 2021.
According to the most recent statistics from STO, the company earned an annual operating profit of MVR1 billion; compared to only MVR0.6 billion in 2021. The annual net profit of the company for 2022 is MVR742 million; compared to MVR486 million in 2021.
Meanwhile, the largest state-owned enterprise (SOE) earned MVR4.59 billion of quarterly revenue for Q4-2022. The company had generated MVR4.63 billion in the preceding quarter last year. Additionally, STO had generated MVR3.29 billion of quarterly revenue in Q4-2021.
STO’s net profit for Q4-2022 stood at MVR269 million, while its net profit for Q3-2022 stood at MVR168 million. The company’s net profit was at just MVR131 million in Q4-2021.
Furthermore, the company reported an operating profit of MVR368 million in Q4-2022; compared to just MVR177 million in Q4-2021. Additionally, the company had generated MVR255 million in operating profit in Q3-2022.
