Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker
It reported earnings of 39 cents for the quarter in the quarter. Earnings for the first six months to end September were 85 cents a share on a profit of 453.2 million rupees, up from a loss of 312.1 million rupees a year earlier.
Lanka IOC fell 20 cents to 27.10 rupees on Monday.
Revenue for the September quarter grew 2.1 percent from a year earlier to 25.6 billion rupees, cost of sales fell 1 percent to 24 billion rupees leading to gross profits doubling to 1.5 billion rupees.
In May, the government put in place a formula that would change local fuel prices based on global oil price movements every month.
Selling and distribution expense fell 22.8 percent to 580.2 million rupees from a year earlier, while administrative expenses were down 29.3 percent to 364.2 million rupees.
Finance costs increased over tenfold to 546.2 million rupees from 48 million rupees a year earlier.
Lanka IOC's assets grew to 40.3 billion rupees from 33 billion rupees at the start of the financial year with increased inventories.
Borrowings, all short-term, increased to 7.1 billion rupees in September from 5 billion rupees in March. (COLOMBO, 29 October 2018)
- Posts : 1411
Join date : 2016-11-28
Age : 40
- Posts : 629
Join date : 2014-03-27
May be possible reduction of oil price in the form of carrot Ala deter the IOC price movement.
- Top contributor
- Posts : 4749
Join date : 2014-02-26