Addressing the 10th Annual General Meeting (AGM) of Lanka IOC held at Colombo. Mr.M.Nene Chairman Lanka IOC and Director (Marketing), Indian Oil said, “Lanka IOC will continue to play a key role in energizing and enriching the nation, supporting the endeavor of the Government of Sri Lanka, for developing the nation into a strategically important economic power in the region, under the forward-looking leadership of H.E. President of Sri Lanka.” He also added that Lanka IOC has made remarkable progress in the very first decade of its operations in Si Lanka. World-class fuels are now being offered to our valued customers in Sri Lanka for use in new generation vehicles that are increasingly popular in Sri Lanka.
With reference to the companies financial status, Mr.Nene said,”The turnover of Lanka IOC for the financial year 2011-2012 touched Sri Lanka Rs.60.4 billion while profits stood at Rs.930 million. He signed off thanking the valued shareholders for their support and promising that Lanka IOC would continue to work towards achieving energy security in Sri Lanka while focusing on offering world-class technology, products and services as part of the Company’s customer-oriented growth agenda.

Lanka IOC PLC as one of the leaders in Sri Lanka Oil Companies had a Rs 2.83 billion net profit for the six months ended 30 September 2013, up from Rs 1.37 billion a year ago, interim financial results filed with the stock exchange showed.

Revenue for the six-month period increased to Rs 39.23 billion, up from
Rs 38.86 billion a year ago.Distribution costs fell to Rs 855.75 million, down from Rs 889.24 million a year ago.

Finance income grew to Rs 100.98 million, down from Rs 51.3 million and finance costs increased to Rs 309.49 million, up from Rs 155.84 million a year ago. Basic earnings-per-share amounted to Rs 5.32, up from Rs 2.58 a year ago