The State Trading Organization has reported a 33 per cent increase in revenue for the first quarter of 2026, alongside growth in profitability driven by higher fuel sales.

According to the company’s financial statements, total revenue reached MVR 5.5 billion during the quarter, reflecting a significant increase compared to the previous period.

STO attributed the growth to rising global oil prices amid tensions in the Middle East, as well as a 27 per cent increase in fuel sales, including bunkering operations.

The company reported an operating profit of MVR 368 million, up 14 per cent from the previous quarter, despite an increase in operating expenses. Profit before tax stood at MVR 331 million, marking a 20 per cent increase following a reduction in financing costs.

Net profit after tax for the quarter was recorded at MVR 276 million, while overall profitability continued to improve in line with revenue growth.

STO also expressed appreciation to its business partners for their continued support and cooperation.