{"id":6550,"date":"2023-07-30T19:52:36","date_gmt":"2023-07-30T14:52:36","guid":{"rendered":"https:\/\/mbt.mv\/?p=6550"},"modified":"2023-07-30T19:52:36","modified_gmt":"2023-07-30T14:52:36","slug":"sto-q2-earnings-see-drop-but-boost-in-net-profit","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=6550","title":{"rendered":"STO Q2 earnings see drop, but boost in net profit"},"content":{"rendered":"<p>State Trading Organization (STO) has reported a quarterly earning of MVR 3,782 million (MVR 3.8 billion) in the second quarter of 2023.<\/p>\n<p>According to the largest state-owned enterprise (SOE), the company&#8217;s quarterly total revenue is lower in comparison with the corresponding quarter in 2022. In Q2-2022, STO earned a total of MVR 4,949 million (MVR 4.9 billion).<\/p>\n<p>Despite this notable drop in quarterly earnings, STO&#8217;s net profit for the review quarter was an increment from the same quarter last year. The company reported a net profit of MVR 303 million for Q2-2023 compared to the MVR 155 million in Q2-2022.<\/p>\n<p>Similarly, STO observed a significant bump in their operating profit which went up from MVR 217 million in Q2-2022 to MVR 428 million in the review quarter.<\/p>\n<p>The company&#8217;s expenditure for the review quarter stood at MVR 399 million, which is an increment from the MVR 327 million in the previous quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State Trading Organization (STO) has reported a quarterly earning of MVR 3,782 million (MVR 3.8 billion) in the second quarter of 2023. According to the largest state-owned enterprise (SOE), the company&#8217;s quarterly total revenue is lower in comparison with the corresponding quarter in 2022. In Q2-2022, STO earned a total of MVR 4,949 million (MVR<\/p>\n","protected":false},"author":4,"featured_media":6552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1982,1990],"class_list":{"0":"post-6550","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uncategorized","8":"tag-state-trading-organization","9":"tag-sto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>STO Q2 earnings see drop, but boost in net profit - Maldives Business Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mbt.mv\/?p=6550\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"STO Q2 earnings see drop, but boost in net profit - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"State Trading Organization (STO) has reported a quarterly earning of MVR 3,782 million (MVR 3.8 billion) in the second quarter of 2023. 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