Jan 25, 2018

Lanka IOC incurred loss in 2017 Featured

The Lanka Indian Oil Company has incurred a post-tax loss of Rs. 340 million in the fourth quarter of last year, according to its financial reports, adaderana.lk reports.

Its losses in the last three quarters of 2017 rose to Rs. 652 million.

When compared to the performance during the same period of 2016, the company’s sales expense rose more than the sales revenue.

In the final quarter of 2017, sales revenue stood at Rs. 22.02, when compared to Rs. 20.57 billion in the previous year.

Sales expenses for the final quarter of 2017 were Rs. 21.75 b, up from Rs. 19.27 b.

In the last three quarters of the year, Lanka IOC lost Rs. 650 m, after recording a Rs. 3.71 after-tax profit during the same period last year.

Financial report of the company: