State Trading Organization (STO) received an income of MVR 2.382 billion in the second quarter of 2019.
According to STO, the compared to the previous quarter, they received an additional MVR 38 million and this is largely due to the improvement of their fuel services.
Despite the increased income in the fuel business, their report shows a decrease in profit by 14%. It also shows an increase in profits from STO’s other business ventures.
After the reduction tax, STO made a total of MVR 81 million in profits during the second quarter, compared to their profit of MVR 104 million in the first quarter.
