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Lanka Indian Oil Corp June quarter net down

ECONOMYNEXT – Lanka Indian Oil Corporation said June 2015 quarter net profit fell 86 percent to 171 million rupees from a year ago.

Sales of the firm, a unit of Indian Oil Corp., fell 18.7 percent to 17.4 billion rupees, a stock exchange filing said.

Earnings per share fell to 32 cents in the June 2015 quarter from 2.26 rupees a year ago.

LIOC’s other income fell sharply during the quarter while distribution costs and administration expenses rose. (Colombo/August 4 015)

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