STO announces a net profit of MVR 100 million for Q3

State Trading Organization (STO) has announced a profit after tax of MVR 100 million for the third quarter of this year.

The Q3 financial report released by STO shows the company generated an income of MVR 1.5 billion. The figure is MVR 700 million less than the MVR 2.2 billion the company generated as income in Q3 last year.

While the income in Q3 is lower compared to last year, it shows improvement when compared to Q2 this year, when STO had generated an income of MVR 1.2 billion.

STO’s expenditure in Q3 was MVR 235 million.

The biggest income in Q3 was generated through fuel trade. The company generated MVR 818 million as income from fuel trade, and MVR 727 million from other trade sectors.