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Tuesday, February 15, 2011

Sri Lanka Indian Oil unit Dec profit up sharply

Feb 15, 2011 (LBO) - Net profit for the December 2010 quarter of Lanka Indian Oil Corporation (LIOC) soared to 602 million rupees from 12 million rupees the previous year, a stock exchange filing said.

Earnings per share of the firm, a unit of Indian Oil Corp., were 1.1 rupees in the quarter compared with just 0.02 the year before.

LIOC's sales rose 3.3 percent to 13.4 billion rupees in the quarter from a year ago.

The December quarter net profit was 20 percent higher than the profit of 502 million rupees in the September 2010 quarter, analysts said.

source - www.lbo.lk