State Trading Organization (STO) reports generating a quarterly revenue of MVR 4.02 billion in final quarter of 2023.
The largest state-owned enterprise (SOE) in the Maldives generated a net profit of MVR 183 million in the review quarter; which is slightly lower than the net profit of Q3-2023 registered at MVR 196 million. The operating profit on the other hand registered MVR 259 million in the review quarter, which is notably lower than the operating profit in the preceding quarter; registered at MVR 315 million.
Total expenses of the company in the review quarter stood at MVR 308 million, which is lower than the preceding quarter; registered at MVR 417 million.
The net per share stood at MVR 3,825, which is a visible improvement from the MVR 3,666 observed in Q3-2023.
STO posted an annual revenue of MVR 16.4 billion in 2023, which is approximately MVR 2 billion lower than the MVR 18.2 billion observed in 2022.