State Trading Organisation (STO) has recorded a revenue of USD 304.4 million in the first six months of the year, which is an increase of USD 69.299 million when compared to the same period of the previous year.
STO attributed the increase in the total revenue to the income received from sale of fuel and other businesses. The amount of fuel sold increased by 7.5% in the second quarter of the year, compared to the same period of last year. The financial records of STO show the company received USD 155.443 million in the second quarter of the year. The amount is an increase of USD 9.2 million compared to the second quarter of last year.
Furthermore, STO said a profit of USD 80 million was made from sale of fuel by maintaining the fuel prices, although there were fluctuations in the global oil prices in the second quarter.
As the second quarter coincided with annual bonus and Ramadan bonus, the expenses of the quarter were more compared to the previous quarter.