STO Records MVR 4.9 Billion as Total Revenue in Q2

State Trading Organization (STO) has generated a total revenue of MVR 4.9 billion in the second quarter of this year.

According to the quarterly report published by the state behemoth yesterday, this is a 22.4 percent increase compared to the first quarter.

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The total revenue generated in the second quarter rose due to the increase in revenue generated from oil sold by STO, the company said in a statement.

Additionally, during the second quarter, MVR 217 million was generated as operating profit, while MVR 155 million was generated as net profit. Earning per share of MVR 138 was issued.

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