Financial reports show that STO (State Trading Organization) has earned 574 million rufiyaa in profits for the second quarter of this year. This represents a 2% decrease compared to the previous quarter. According to STO’s statistics for the second quarter of 2025, the total revenue for the second quarter was 3.6 billion rufiyaa. This is a 12% decrease compared to the previous quarter. STO notes that the main reason for the decrease in total revenue is due to changes in fuel prices and a decrease in fuel demand during this quarter. Consequently, with the decrease in total revenue, the total profit earned was 574 million rufiyaa. This is a 2% decrease compared to the previous quarter. However, the total revenue from the company’s other businesses has increased.
With the decrease in the company’s total profit and a relative increase in operating expenses, the operating profit was 236 million rufiyaa. This is an 11% decrease compared to the previous quarter.
Despite the decrease in operating profit, STO stated that due to an increase in investment income in the second quarter and a reduction in net finance, the net profit before tax for this quarter was 198 million rufiyaa. After tax deductions, the net profit for this quarter was 163 million rufiyaa. This is a 3% decrease compared to the previous quarter. However, compared to the second quarter of last year, the net profit has increased by 15 million rufiyaa, showing a 10% growth.
STO is a company that operates the widest range of businesses in the Maldives. It deals in fuel, pharmaceuticals, construction materials, as well as food and beverage products.
