State Trading Organisation (STO) has revealed that their revenue during the second quarter of 2022 was at MVR 5 billion,

According to the quarterly statistics released by STO, the MVR 5 billion revenue during the second quarter is a 22% increase in revenue when compared to the first quarter.

Even though the revenue of STO saw a significant increase, their profit saw a decrease of MVR 11.4 million compared to the first quarter. As such, their Gross Profit during Quarter 1 stood at MVR 469 million, while the same was at MVR 457 million during the second quarter.

Statistics show that profit before tax was MVR 188 million during the second quarter, while their net profit for the quarter was at MVR 155 million. This marks a 3.2 percent increase compared to the previous quarter.