State Electric Company’s (STELCO) profits has decreased in the first quarter of 2019.
According to the first-quarter report released by the privatization board, during the first four months revenue of STELCO increased by 12% making a total of MVR 456.4 million.
Similarly there costs increased. They spent a total of MVR 366.8 million which is an increase of 14% compared to the previous year’s first quarter.
The increase in costs resulted in the immersive decrease in their profit for the first quarter.