STELCO's Managing Director Hussain Fahmy has said that the company made a profit of MVR 138 million last year.
Fahmy revealed the company's financial highlights for the past seven years on X today. According to these figures, the company incurred a loss of MVR 172 million in 2023.
However, last year the company recovered from this loss and made a profit of MVR 138 million. The statistics show that this is the largest profit the company has made in the past six years.
Figures revealed by Fahmy:
- 2018: MVR 105 million
- 2019: MVR 109 million
- 2020: MVR 130 million
- 2021: MVR 105 million
- 2022: MVR 107 million
After facing a loss, STELCO returned to profitability last year. Fahmy said this result was achieved through efficient use of resources, reducing waste, and strengthening the management system.
