The State Trading Organization (STO) reported a net profit of MVR 279 million for the second quarter of the year, an increase of 71% compared with the same period last year.

According to the company's quarterly financial report, STO recorded revenue of MVR 6.9 billion during the April–June period, up 97 percent from MVR 3.5 billion in the second quarter of last year.

Net profit increased by MVR 116 million, rising from MVR 163 million in the corresponding quarter of 2025 to MVR 279 million this year.

STO attributed the increase in revenue primarily to higher global oil prices. The company said that while profitability from its fuel business declined, stronger performance from its other business segments contributed to the increase in overall profit.

The company had reported a net profit of MVR 276 million in the first quarter of this year.

Operating expenses also increased significantly during the second quarter, rising by 117 percent.

STO's total expenditure reached MVR 6.2 billion during April, May and June, compared with MVR 2.9 billion in the same period last year.