The State Trading Organization (STO) has reported stable financial and operational performance in the first quarter of 2025, despite a decline in net profit due to falling global oil prices. The company’s Q1 results were officially published on April 30 via its corporate website.<\/p>\n
According to the report, STO recorded a total revenue of MVR 4.02 billion<\/strong>, representing a 4.6% increase<\/strong> from the MVR 3.84 billion<\/strong> reported in Q4 FY2024. While this marks quarter-on-quarter growth, the company acknowledged a year-on-year revenue dip, primarily due to the stabilization of international oil prices following a surge in early 2024.<\/p>\n Despite the impact of oil price fluctuations, non-oil sectors such as general trading, construction materials, and healthcare solutions delivered strong results<\/strong>, contributing to the company\u2019s overall financial resilience. The oil segment continues to generate the largest share of STO\u2019s revenue, underscoring its central role in the organization\u2019s business model.<\/p>\n STO posted a net profit of MVR 583 million in Q1 2025<\/strong>, down from MVR 617 million in the same quarter last year<\/strong>. Operating profit<\/strong> fell to MVR 263 million<\/strong>, compared to MVR 308 million in Q1 FY2024<\/strong> and MVR 300 million in the previous quarter<\/strong>.<\/p>\n The company cited lower crude oil prices and shifts in earnings timelines<\/strong> as key factors affecting profitability. Net profit after tax stood at MVR 169 million<\/strong>, reflecting a 13.5% decrease<\/strong> from MVR 195 million<\/strong> in Q1 FY2024. Nevertheless, all business units remained profitable and aligned with performance expectations.<\/p>\n Looking forward, STO expressed confidence in its ability to restore growth momentum<\/strong>, with plans to expand its oil and wholesale operations<\/strong>, introduce new product lines<\/strong>, and capitalize on digital transformation and infrastructure projects<\/strong> already underway.<\/p>\n In its statement, STO extended appreciation to its business partners for their ongoing trust and collaboration.<\/p>\n \u201cWe thank all our partners for their closeness and support in the affairs of STO,\u201d the company said.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":" The State Trading Organization (STO) has reported stable financial and operational performance in the first quarter of 2025, despite a decline in net profit due to falling global oil prices. The company’s Q1 results were officially published on April 30 via its corporate website. According to the report, STO recorded a total revenue of MVR<\/p>\n","protected":false},"author":1,"featured_media":15813,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2423,2428,2506],"tags":[2963,2575,2962,768,2964,2966,1289,2967,2961,2959,2965,2958,2960,1990],"class_list":{"0":"post-15810","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-public-sector","9":"category-top-stories-block","10":"tag-construction-materials","11":"tag-digital-transformation","12":"tag-financial-report","13":"tag-general-trading","14":"tag-healthcare-solutions","15":"tag-infrastructure-projects","16":"tag-maldives-economy","17":"tag-male-business-news","18":"tag-net-profit","19":"tag-oil-prices","20":"tag-operating-profit","21":"tag-q1-2025","22":"tag-revenue-growth","23":"tag-sto"},"yoast_head":"\n