Statistics have shown that state-owned companies posted a revenue of MVR 10.2 billion in the first quarter of this year.
According to the Privatization Board (PCB), which oversees government companies, the figure is a 54 percent increase compared to the same period in 2021. The board's financial report said state-owned companies posted a net profit of MVR 1.94 billion in this year's first quarter.
According to the PCB, the State Trading Organization (STO) earned the highest revenue in the first quarter of this year. The company had a revenue of MVR 4 billion. The Maldives Airports Company Limited (MACL) posted the second-highest revenue in the first quarter, with a revenue of MVR 1.69 billion. HDC generated the third-highest revenue at MVR 417 million.
The report noted that some companies posted lower revenues in the first quarter of this year compared to the first quarter of the previous year, while some companies did not generate any revenue during the period.
