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STO collects MVR 46.6 mln in profit in first quarter

Nafaahath Ibrahim
30 April 2018, MVT 17:49
STO Managing Director Ahmed Shareeh (C) speaking at a press conference held April 4, 2018. MIHAARU PHOTO / NISHAN ALI
Nafaahath Ibrahim
30 April 2018, MVT 17:49

State Trading Organization (STO) reveals that their gross profit has increased up to MVR 46.6 million during the first quarter of this year.

According to the financial reports from STO released on Monday, they earned a profit of MVR 2.2 billion in the first quarter of the year. In 2016, the company earned MVR 2.02 billion and MVR 44.4 million as gross profits.

While STO had spent MV 1.9 billion during this first quarter, they earned a profit of MVR 269 million after cutting all the costs.

During this quarter, STO had paid MVR 10.6 million as tax.

MVR 41.37 per share is the dividend from this profit.

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