State Trading Organisation (STO) posted a net profit of MVR 155.3 million in the second quarter of this year.
STO received a total of MVR 9.4 billion as revenue by the end of the second quarter, according to the company's financial statements released today. This is a 22 percent increase over the previous quarter.
The company posted a net profit of MVR 155.3 billion despite revenue of MVR 9.4 billion.
The company said the increase in revenue was mainly due to an increase in total oil revenue compared to the previous quarter. Despite the increase in revenue, the company's total profit declined by MVR 11 million compared to the previous quarter.
The company said its operating profit stood at MVR 217 million despite a decline in total profit compared to the previous quarter. This is a 4 percent increase over the previous quarter.
Meanwhile, the company has been aiming at cutting costs and expanded its businesses.
STO received a total of MVR 9.4 billion as revenue by the end of the second quarter, according to the company's financial statements released today. This is a 22 percent increase over the previous quarter.
The company posted a net profit of MVR 155.3 billion despite revenue of MVR 9.4 billion.
The company said the increase in revenue was mainly due to an increase in total oil revenue compared to the previous quarter. Despite the increase in revenue, the company's total profit declined by MVR 11 million compared to the previous quarter.
The company said its operating profit stood at MVR 217 million despite a decline in total profit compared to the previous quarter. This is a 4 percent increase over the previous quarter.
Meanwhile, the company has been aiming at cutting costs and expanded its businesses.
