The State Trading Organization (STO) has reported total revenue of MVR 3.55 billion for the second quarter of 2025, reflecting a 12 per cent decline compared to MVR 4.02 billion in the previous quarter.

According to the company’s quarterly report, the decrease in revenue is primarily attributed to the normalisation of international fuel prices and a reduction in demand for jet fuel during the period.

This decline in revenue also affected profitability, with STO recording a net profit of MVR 162 million in Q2—a 4.1 per cent decrease from the MVR 169 million posted in the first quarter. The company attributed the lower profit to reduced sales and increased provisions, though its core business segments remained within forecast and continued to generate positive returns.

On a year-on-year basis, however, STO’s net profit after tax rose by 10 per cent, increasing by MVR 15 million compared to MVR 147.9 million recorded in Q2 2024.

Beyond its financial performance, the company also highlighted its corporate social responsibility (CSR) initiatives. Key contributions included over MVR 100,000 in sponsorships to organisations such as Care Society and the Maldives Basketball Association. STO also donated air conditioning units to four healthcare facilities and supported seven community activities promoting active and healthy lifestyles.

STO Group is one of the Maldives’ leading State-owned enterprises, with a diverse portfolio spanning fuel, gas, consumer goods, construction materials, medical supplies, insurance, and shipping.