State Trading Organisation (STO) on Thursday announced that the state owned company has generated over MVR 1 billion as operating profit in Q4, 2022.
STO described it as a record performance year, with the unaudited financial statements showing the Company generated a total MVR 18.2 billion in 2022 – a 79% increase compared to the MVR 10.2 billion in 2021.
STO stated the operating profit contributed greatly to the company’s profit in 2022. As such, STO’s operating profit crossed the MVR 1 billion mark in 2022 compared to MVR 643 million in 2021.
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