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STO profit drops to MVR54 million in second quarter

Fathmath Shaahunaz
02 August 2017, MVT 12:19
State Trading Organisation (STO)'s main office in capital Male.
Fathmath Shaahunaz
02 August 2017, MVT 12:19

State Trading Organisation (STO)’s net profit dropped to MVR 54.6 million in the second quarter of this year.

In its quarterly report, STO stated that the company recorded a revenue of MVR 1.96 billion in the last quarter, while MVR 1.7 billion were spent in trade expenditure.

Statistics show that STO earned MVR 1.82 billion as revenue in the first quarter of 2017 while it spent MVR 1.6 billion in trading. The net profit in the first quarter was MVR 61.3 million.

While profits dropped, STO’s dividend in the last quarter was MVR 48.4 per share.

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