STO posts MVR 6.48 billion Q3 revenue as operating profit rises 23%

STO records MVR 6.48 billion Q3 revenue as operating profit rises 23%

The MVR 6.48bn revenue, 7% revenue decline, 23% operating-profit increase and MVR 281m net profit make this well suited to a financial-results Reel with animated comparisons.

Mohamed Hilmy

29 October 2026, 14:06

State Trading Organization (STO) recorded MVR 6.48 billion in revenue during the third quarter of 2026, while operating profit increased 23% from the previous quarter.

Revenue for the July–September period declined 7% from MVR 6.98 billion in the second quarter.

Despite the decline in revenue, operating profit rose to MVR 400 million from MVR 324 million in Q2, reflecting improved operational performance during the quarter.

STO attributed the lower revenue mainly to reduced global fuel prices, while fuel sales volumes increased during the period.

Gross profit stood at MVR 738 million, with the gross profit margin improving to 11.4% from 10.8% in the previous quarter.

Operating expenses declined to MVR 393 million from MVR 449 million, supported by cost reductions following the restructuring of the company’s medical business segment and lower operating costs.

Profit before tax increased 5% to MVR 352 million, while profit after tax stood at MVR 281 million, compared with MVR 280 million in the second quarter.

STO’s total assets reached MVR 18.35 billion by the end of September, while cash reserves stood at MVR 1.25 billion.

The company’s share price also increased 12.7% during the quarter to MVR 2,400, taking its market capitalisation to MVR 2.71 billion.

STO records MVR 6.48 billion Q3 revenue as operating profit rises 23%

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