Litro Gas posts exceptional financial results

Reports PBT of Rs 1,436 million for the year ended 2020

Despite economic adversity and a challenging environment, Sri Lanka’s national LPG provider Litro Gas, ended 2020 with exceptional financial results that affirmed its position as the industry leader and a formidable entity in the Sri Lankan corporate environment.

Although the global energy industry was impacted by the pandemic during the period under review, Litro Gas was able to achieve these results while passing on an unwavering economic benefit to the people through stabilized LPG prices, says Anil Koswatte Chairman & CEO of Litro Gas Lanka Limited and Litro Gas Terminal Lanka (Private) Limited.

Litro Gas has reported a Profit before Tax of Rs 1,436 million for the year ended 2020.

For Litro Gas, a volume increase of 3% has impacted revenue on a positive note. However, domestic segment price reduction of 11% (In 2019 the Annual Average stood at Rs. 1673 /- & in 2020 the Annual Average stood at Rs. 1493/-) has caused a negative impact on the Company’s revenue.

Operating within an industry that is price controlled in keeping with easing the economic burden on the people as per President Gotabaya Rajapaksa’s economic policy framework, Litro Gas has consistently maintained the cap on prices of domestic LPG. The result has been an unbroken economic benefit given to the consumers, said Koswatte.