Sri Lanka’s IOC unit profits up 112-pct in March 2023 quarter

Sri Lanka’s Lanka IOC unit which piggy backs on the pricing of state-run Ceylon Petroleum Corporation but has a leaner operation reported profits of 7.1 billion rupees in the March 2023 quarter up 112 percent from 3.3 billion a year earlier.

For the full year ended March Lanka IOC has reported profits of 37.6 billion rupees and provided 7.0 billion as income taxes.

The firm reported earnings of 13.48 rupees for the quarter and 70.79 rupees for the full years.

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