Sri Lanka’s LVL Energy Sept quarter net profit down 12-pct

ECONOMYNEXT – Sri Lanka’s LVL Energy Fund, which debuted on the Colombo bourse Tuesday, reported group net profit fell 12% to Rs153 million in the September 2017 quarter from a year ago.

Interim accounts filed with the stock exchange showed a sharp increase in finance costs and payout for minority interest during the period.

Quarter earnings per share of the firm fell to 33 cents from 38 cents the year before. Sales rose to Rs127 million from Rs107 million.

EPS for the six months to September 2017 were 63 cents with net profit at Rs291 million

LVL Energy Fund raised Rs1.2 billion with an initial public offering of a 20.6% stake at Rs10 a share.

The share closed at Rs10 Wednesday, down 10 cents.
(COLOMBO, January 10, 2018)

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