STO Posts Q2 Profit of MVR 163 Million, up 10% Year-On-Year
State Trading Organization (STO) reported a net profit after tax of MVR 163 million for the second quarter of 2025, a 10% increase from MVR 147.9 million in Q2 2024. Net profit before tax was MVR 198 million. However, net profit fell 3% from the first quarter. Total revenue for Q2 was MVR 3.6 billion, up 10% year-on-year but down 12% from Q1. The company attributed the quarterly revenue drop mainly to changes in global oil prices and lower oil demand, with jet fuel demand declining but diesel sales rising due to lower prices. Revenue from non-oil businesses increased by 6%.
State Trading Organization (STO) reported a net profit after tax of MVR 163 million for the second quarter of 2025, a 10% increase from MVR 147.9 million in Q2 2024. Net profit before tax was MVR 198 million. However, net profit fell 3% from the first quarter. Total revenue for Q2 was MVR 3.6 billion, up 10% year-on-year but down 12% from Q1. The company attributed the quarterly revenue drop mainly to changes in global oil prices and lower oil demand, with jet fuel demand declining but diesel sales rising due to lower prices. Revenue from non-oil businesses increased by 6%.
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State Trading Organization (STO) reported a net profit after tax of MVR 163 million for the second quarter of 2025, a 10% increase from MVR 147.9 million in Q2 2024. Net profit before tax was MVR 198 million. However, net profit fell 3% from the first quarter. Total revenue for Q2 was MVR 3.6 billion, up 10% year-on-year but down 12% from Q1. The company attributed the quarterly revenue drop mainly to changes in global oil prices and lower oil demand, with jet fuel demand declining but diesel sales rising due to lower prices. Revenue from non-oil businesses increased by 6%.
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Focus: STO Posts Q2 Profit of MVR 163 Million, up 10% Year-On-Year
Unique detail: STO Posts Q2 Profit of MVR 163 Million, up 10% Year-On-Year
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