In a resounding display of resilience and financial stewardship, the State Trading Organization (STO) has once again proven its indispensable role in the nation’s economy, posting a solid net profit of MVR 163 million in the second quarter of 2025 — despite external challenges and fluctuating global markets.
At a time when international fuel markets remain volatile and demand trends unpredictable, STO’s ability to navigate such complexities reflects the institution’s unwavering commitment to national stability and economic continuity. The company recorded a total revenue of MVR 3.6 billion for the quarter, a testament to the scale and reach of its operations.
While revenue saw a temporary 12% dip due to global fuel price adjustments and reduced local demand — challenges well beyond the company’s control — STO swiftly counterbalanced the impact through prudent investment strategies and strong performance across its diversified business sectors. The result: a gross profit of MVR 574 million and an operating profit of MVR 236 million, both managed with remarkable efficiency amid rising operational costs.
Most notably, STO’s increased investment income during the quarter significantly offset finance costs, culminating in a robust pre-tax profit of MVR 198 million. After taxes, the company retained MVR 163 million in net profit — a marginal 3% quarter-on-quarter decline but a powerful 10% increase compared to the same period last year. This year-on-year growth reaffirms STO’s strategic vision and disciplined financial governance.
The figures speak for themselves — STO is not merely surviving market turbulence; it is outpacing expectations. This success is the result of visionary leadership, tireless efforts by dedicated teams, and the trust and collaboration of partners across the nation.
As Maldivians face rising global uncertainties, STO continues to be a pillar of confidence — ensuring fuel security, supporting essential services, and driving the country’s economic engine forward.
In a note of appreciation, the company extended heartfelt gratitude to its business partners for their steadfast cooperation. “Your support strengthens our resolve and reinforces our mission to serve the nation with excellence” STO stated.
Under the leadership of President Dr Mohamed Muizzu, institutions like STO are empowered to deliver real results for the people — laying the foundations of an economically self-reliant and prosperous Maldives.
