STO posts MVR 4.14bn Q4 revenue as profits, debt, and cash pressures move in tandem
STO reported an 11 percent increase in gross profit for Q4 2025, with net profit reaching MVR 244 million. The company achieved record annual net profit of MVR 762 million on total revenue of MVR 15.5 billion. Total assets stood at MVR 14.18 billion with improved liquidity, though the debt-to-equity ratio rose to 1.52.
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According to the fourth-quarter 2025 report released by the State Trading Organization (STO), the company generated revenue of MVR 4.14 billion during the quarter. This represented an approximate eight percent increase compared to the previous quarter, with fuel trade identified as the primary driver of revenue growth.
The company’s gross profit for the fourth quarter also increased by 11 percent compared to the preceding quarter.
STO recorded a net profit of MVR 244 million in the fourth quarter, reflecting a notable improvement from the MVR 186 million earned in the third quarter.
For the full fiscal year, STO reported total revenue of MVR 15.5 billion and achieved a record net profit of MVR 762 million, indicating steady year-on-year growth for the organization.
By the end of the fourth quarter, STO’s total assets amounted to MVR 14.18 billion, while total equity reached MVR 5.62 billion. The company’s liquidity position improved over the quarter, with the current ratio rising from 1.22 in the previous quarter to 1.48. At the same time, the working capital required for business operations increased to MVR 3.16 billion.
The report further noted that the debt-to-equity ratio climbed to 1.52 by the end of the final quarter, following an increase in the company’s total debt.
Regarding cash flow, net cash generated from operating activities declined by MVR 139 million. Meanwhile, investment cash outflows rose to MVR 642 million, driven by capital expenditures on financial assets and major projects. Despite this, with an inflow of MVR 802 million, the company’s cash and cash equivalents stood at MVR 222 million at the close of the quarter.
In the stock market, STO’s share price remained relatively stable throughout the fourth quarter. Share prices fluctuated between MVR 1,671 and MVR 1,900, closing the quarter at MVR 1,800 per share.
The company’s market capitalization stood at approximately MVR 2.03 billion, while earnings per share increased to MVR 217. As profitability improved, the price-earnings ratio strengthened to 8.29. A notable increase in share trading volume was also observed compared to previous quarters.
