Lanka IOC PLC 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

Lanka IOC PLC, unveiled a range of new age lubricants in the presence of a large gathering of customers from the automobile industry, OEM representatives, trade partners and distributors at a colourful ceremony at the ‘Atrium’ of Cinnamon Grand Hotel. Following the launch of Servo Futura range of lubricants consisting of SERVO Futura Synth, SERVO Futura P, SERVO Futura P Plus, and SERVO Futura D, Lanka IOC PLC Managing Director, Subodh Dakwale, said the launch today marks a distinct technological milestone in the 40 year history of brand ‘SERVO’.
Speaking further he said: “SERVO Futura meets the latest international specifications of American Petroleum Institute, Volvo and Mercedes Benz, besides the latest European specifications. With the launch of SERVO Futura Synth Lanka IOC now joins the select brands of premium global lubricants that offer fully synthetic engine oils.”
The top-end offering SERVO Futura Synth is a 100% synthetic premium lubricant that is formulated from performance enhancing Polaphoalefins group-IV base oils and additives that are classified by the American Petroleum Institute (API). SERVO Futura Synth meets the most advanced performance level standards of API SN, with 5W-50 viscometrics ensuring improved mileage and excellent engine performance. The product offers outstanding protection to engine, besides, enhanced engine life through its effective anti-wear capabilities.

SERVO Futura P+, a hybrid synthetic oil meeting the highest specifications of API SN, is another superior engine oil as also are SERVO Futura P and SERVO Futura D – for petrol and diesel engines respectively.
SERVO Futura range of lubricants are a unique combination of products and services that enable users to combine high quality maintenance and reduced operating costs for materials. It is the smart solution for people who want to simplify the maintenance of their car. It caters to an entire range of new generation vehicles and the advantage of Futura is that it clings to the piston and works even when the engine is not running. It shields the engine’s crucial components even when it’s off providing round-the-clock protection for your car’s engine. The superior polar chemistry ensures cleaner engine, provides enhanced engine life and lower maintenance cost.

SERVO with more than a 40% share in the Indian market of approximately 1.4 million metric tonnes served by more than 40 lubricant companies which include all of the world’s leading brands, is fast becoming Sri Lanka’s preferred choice of lubricants ahead of its competitors due to the unmatched quality and range of its products. Today, SERVO is the second largest selling brand in Sri Lanka. Continued availability resulting from a wide distribution network further fortifies its stake in the market as a major player. SERVO’s attention to detail also ensures that venturing into new explorations, collaborations and relationships are consistently carried out in accordance with the company’s vision of providing unrivaled product and service excellence. Recently LIOC has commenced manufacturing group II based diesel engine oils meeting API CH4 specification in its plant in Trincomalee. LIOC has launched the concept of SERVO Shops which are exclusive shops for marketing SERVO range of lubricants.

Speaking on this occasion Dakwale, further said, “Being a market leader, we have a keen eye on the ever changing dynamics of the market. Rising oil prices and the ever-growing demand for environment protection has resulted in the industry seeking energy-efficient and less polluting engines. In turn this has pressurized oil manufacturers into delivering absolutely cutting-edge products.”

He further stated that for more than 40 years SERVO has worked assiduously to earn the trust of man and the respect of machine. Working deep inside the crankcase of high-speed engines where massive heat is generated and friction can cause engines to seize, SERVO has discharged an important responsibility with self-belief and commitment. Today, it symbolizes innovation, technology, reliance and value.

Lanka IOC PLC is the overseas venture of IOC India, a Fortune 500 company. It is the only private oil company other than the state-owned Ceylon Petroleum Corporation (CPC) that operates over 150 retail petrol/diesel stations in Sri Lanka and has a very efficient lube marketing network. Its major facilities include an oil terminal at Trincomalee, Sri Lanka’s largest petroleum storage facility and an 18,000 tonnes per annum capacity lubricant blending plant and state-of-the-art fuels and lubricants testing laboratory at Trincomalee. With a powerful compilation of energy brands in addition to the SERVO brand of lubricants including, ‘XtraPremium Euro III Petrol, XtraMile Diesel’ strengthening its portfolio, IOC India has also paved the way for Lanka IOC to achieve a turnover of Rs 60.4 billion.

On completion of a decade of operation in Sri Lanka, Lanka IOC under its CSR Project theme “WE CARE” decided to undertake a few activities of worthy course to serve the community in which it operates.

Number of activities under the theme “We Care including blood donation camp, developing a Bio-Diversity park at Battaramulla in collaboration with the Ministry of Enviornment, English Education for rural school children,
supply of essential medicine for Cancer patients and the donation of Wheel Chairs for needy people were lined up.

People with a mobility disability or physical disability are the same as everyone else. Disability may occur anytime to anyone for various reasons – such as accidents, illness etc., results of which may make the persons’ mobility difficult.
As a responsible corporate citizen, it is our duty to support such needy people in whatever possible manner – making
life convenient, said Mr Subodh Dakwale, Managing Director of Lanka IOC PLC at the event organized to hand over the Wheel Chairs to those with mobility disability, on 11.12.2012 at its Head Office with the participation of all staff of Head Office.

Lanka IOC PLC a leader among Sri Lanka oil companies completed 10 years of business operation in 2012, and to commemorate its anniversary Lanka IOC lined up various CSR activities benefiting the community where the company has its branches. One such community-based service took place on 24 June 2013 at Hotel Taj Samudra premises.

Lanka IOC donated an ambulance to the Divisional Hospital in Mahadivulwewaa, Trincomalee hospital provides healthcare services for over 10,000 people in that area and to transfer a patient to the General Hospital in Trincomalee, it takes more than an hour; the estimated distance is around 40km. Looking into this longstanding requirement of this remote area, Lanka IOC came forward to donate the ambulance.

LIOC Managing Director, S. Dakwale in his address stated that LIOC is committed to helping the needy and poor people and providing them better services to uplift their life in future.

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

Lanka IOC PLC,an active player in the field of downstream petroleum marketing in Sri Lanka and ranked as No.1 amongst Corporates and Sri Lanka oil companies, now offers excellent career opportunities in the following functions.

Manager Sales (Lubes and Bitumen)
Manager -Human Resources
Executive Sales (Bitumen) – Colombo
Lubes Sale Supervisor (Non-Executive)