The State Electric Company (STELCO) recorded a net profit of MVR 239 million by the end of last year.

According to a report by the Auditor General's Office, this represents a 30 percent increase in profitability compared to the MVR 181 million profit registered by the utility provider in 2024.

The audit report shows that STELCO generated a total revenue of MVR 3.3 billion over the past year. In order to earn this revenue, the company incurred MVR 2.6 billion in direct production costs, while an additional MVR 392 million MVRwas utilized to cover general operational expenses.

Additionally, STELCO spent MVR 66 million specifically on fuel expenditures last year. The report also noted that the company disbursed MVR 20 million toward retirement benefits and allowances for its retired employees during the same period.