LIOC continues with robust performance during Q2 2022-23

While the business environment remains challenging with tough economic decisions being the need of the hour, LIOC remains resilient in its approach, continuously striving to steer through the adversities and difficulties due to spiraling inflation, dearth of foreign exchange, high volatility in international oil prices & fears of global recession.

Despite the above constraints, LIOC continued to build further on its exceptional results during Q1 22-23, and registered another strong performance for the Q2 22-23 with emphatic increase in revenue by nearly 327% Y-o-Y from LKR 20.61 Bn to LKR 87.96 Bn for the quarter, mainly in view of the fact that international oil prices continue to remain high. With more confidence being placed by the stakeholders in the company, the Sales volume also increased to 160,468 MT from 128,807 MT depicting Y-o-Y volume increase of nearly 25%. The Net Profit after Tax at LKR 12.36 Bn and the Earnings per share of the Company increased to LKR 23.21 during Q2 22-23 as against LKR 0.53 in same period of previous year, reflect the relentless efforts to maximise return for stakeholders.