State Trading Organization (STO) reports a net profit of MVR 155 million for the second quarter of 2022.
The largest state-owned enterprise (SOE) of the Maldives earned MVR 150 million net profits in the previous quarter, while STO earned MVR 110 million in the second quarter of 2021.
The company also reported of generating a total revenue of MVR 4.95 billion in the review quarter, while STO earned MVR 4.04 billion in the preceding quarter; the corresponding quarter of 2021 earning stood at MVR 2.2 billion.
The company that is amongst the largest importers to the Maldives had reported an operating profit of MVR 217 million for the review quarter.
Earnings per share for the second quarter of the year is MVR 138, while it was at MVR 133 during the first quarter of 2022.
Government shares of the company is at 919,869; with a face value of MVR 50.00 per share, the dividends expected is MVR 45,993,450.
Public shares is at 207,041 with the same face value, and a combined expected dividend of MVR 10,352,050.
The asset cover ratio dropped from 2.11 in Q1-2022 to 2.03 in Q2-2022, while the debt equity ratio rose from 1.80 in the first quarter to 2.13 in the second quarter.
The asset cover ratio is a financial metric that measures how well a company can repay its debts by selling or liquidating its assets. The debt equity ratio measures the relative contribution of the creditors and shareholders or owners in the capital employed in the business.
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