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Feb 24, 2014 (LBO) - Profits at Chevron Lubricants Lanka Plc, rose 7.3 percent to 590 million rupees in the December 2013 from a year earlier, helped by falling input costs, interim accounts showed.
The firm reported earnings of 4.92 rupees per share for the quarter. In the year to December 2013 the firm reported earnings of 21.10 rupees per share.
Chevron Lubricants said revenues fell 1.3 percent to 2.8 billion rupees but costs fell at a faster 6.5 percent to 1.83 billion rupees allowing gross profits to grow 10.2 percent to 985 million rupees.
The firm had earlier said demand was slow amid a weak economy.
Sri Lanka's thermal energy production had picked up over the past few months, which usually results in higher demand for lubricants.
The firm reported earnings of 4.92 rupees per share for the quarter. In the year to December 2013 the firm reported earnings of 21.10 rupees per share.
Chevron Lubricants said revenues fell 1.3 percent to 2.8 billion rupees but costs fell at a faster 6.5 percent to 1.83 billion rupees allowing gross profits to grow 10.2 percent to 985 million rupees.
The firm had earlier said demand was slow amid a weak economy.
Sri Lanka's thermal energy production had picked up over the past few months, which usually results in higher demand for lubricants.
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