STO reports MVR100mn in net profit for Q3-2020

State Trading Organization (STO) reports a whopping MVR100 million as their net profit for the third quarter of 2020.

Moreover, the largest state-owned enterprise reports its total revenue for the review period stood at MVR1,546 million (MVR1.5 billion).

The public limited corporation’s operating profit for Q3-2020 stood at MVR121 million.

Furthermore, with these developments the company’s earnings per share is currently at MVR89 per share.

According to STO’s income statement as of Q3-2020, the company’s fuel revenue stood at MVR819 million.

On the other hand, the non-fuel revenue stood at MVR727 million.

Both of these categories saw modest improvement in comparison with the previous quarter.

While the total revenue stood over MVR1.5 billion, the cost of sales stood at MVR1,203 million (MVR1.2 billion).

Subsequent to this, the gross profit of the company for the review period was observed at MVR343 million.

Additionally, the income statement confirm profit before tax at MVR120 million, while STO settled MVR19.5 million in Business Profit Tax.

Meanwhile the company’s total assets as of Q3-2020 stood at MVR6.4 billion; which coincides with their equity and liabilities.