State Trading Organization (STO) reported a quarterly revenue of MVR 4.62 billion for 2022 third quarter.
According to the largest state-owned enterprise (SOE) in the country, in its quarterly report for the third quarter, STO generated lower revenue compared to Q2-2022. The company generated a revenue of MVR 4.95 billion in Q2-2022.
Despite a moderate decline in overall revenue for STO, the company registered improvement in all of its profit categories for the review quarter when compared with Q2-2022.
STO reports a gross profit of MVR 515.3 million for Q3-2022, whereas gross profit in the preceding quarter was MVR 57.8 million lower at MVR 457.5 million. The enterprise reported an operating profit of MVR 255 million in the review quarter, while in the preceding quarter STO's operating profit stood at MVR 216 million.
Profit before tax for the enterprise in Q3-2022 stood at MVR 204 million, compared to MVR 187 million in Q2-2022.
STO reported a profit after tax of MVR 168 million for the review quarter, a near MVR 13 million increment from MVR 155 million in Q2-2022.
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