State Trading Organization (STO) generated a net profit of MVR150 million in the first quarter of 2022.

Moreover, the net profit earning indicates a 13.5 percent increment from the preceding quarter during which it was recorded at MVR131 million.

During the review quarter, STO generated a total revenue of MVR4.0 billion, which is a 20.4 percent increment when compared with Q4-2021 during which revenues reached MVR3.3 billion.

On the other hand, STO reports of a total expenditure of MVR278 million in the first quarter of 2022 compared with MVR253 million in the previous quarter (Q4-2021).

The state-owned enterprise, which is a public limited corporation currently has 919,869 government shares and 207,041 public shares.

The authorized capital on shares 100,000,000 while the paid-up capital is 56,345,000 and a premium of 27,814,500.