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LIOC Performance in 31st March 2022
LIOC profits have fallen in 31st Dec 2023 to the level of 31st March 2022 and likely to fall further in 31st March 2024 according to industry analysis based on crude oil prices and domestic demand. It's time to exit LIOC.
https://cdn.cse.lk/cmt/upload_report_file/729_1651636803088.03.2022%20CSE.pdf
Sri Lanka IOC unit profits down 63-pct in Dec23
LIOC Performance in 31st Dec 2023
LIOC Share Price Vs Crude Oil Price
https://cdn.cse.lk/cmt/upload_report_file/729_1705374875008.12.2023%20CSE%20LIOC.pdf
Lanka IOC, a Sri Lanka publicly traded unit of Indian Oil Corporation reported profits from 3.015 billion rupees, in the December 2023 quarter, down 63 percent from a year ago.
The firm reported earnings of 5.66 rupees per share for the quarter. In the nine months to December the Lanka IOC reported earnings of 19.76 rupees on total profits of 10.52 billion rupees.
In the December quarter revenues fell 3.8 percent to 72.02 billion rupees, cost of sales were down 6.6 percent to 67.01 billion rupees and gross profits were down 75 percent to 2.26 billion rupees.
Finance income was 1.4 billion rupees, up from 1.09 billion a year ago, while finance expenses fell to 92 million rupees from 533 million rupees.
The firm had short term investments of 35.9 billion rupees, up from 21 billion a year ago. Borrowings were 3.4 billion rupees, down from 4.4 billion.
Equity was 68.6 billion rupees, up from 61.2 billion rupees. (Colombo/Jan16/2023)
https://economynext.com/sri-lanka-ioc-unit-profits-down-63-pct-in-dec23-147497/?utm_source=dlvr.it&utm_medium=twitter
