STO posts MVR 368m net profit in Q1 2023
The company's revenue for the January-March period was 10% higher than the same period last year.
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State Trading Organisation (STO) on Sunday reported a revenue of MVR 4.4 billion and a net profit of MVR 368 million for the first quarter of the year.
According to the company's first quarter data released on Monday, the company's revenue for the January-March period was 10% higher than the same period last year.
In the first quarter, as STO's revenue surged:
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The company posted a gross profit of MVR 809 million which is 19% higher than the fourth quarter of 2022
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Operating profit stood at MVR 503 million
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Net profit stood at MVR 368 million; it stood at MVR 269 million in the fourth quarter of 2022
STO said the company's first-
