Sri Lanka Chevron lubricants unit profits up 11 pct

Chevron-Lubricants

Nov 04, 2015 (LBO) – Sri Lanka’s Chevron Lubricants Lanka Plc said profits in the September quarter rose 11 percent to 834 million rupees from a year earlier despite the shrinking of oil prices locally and globally.

Chevron Lubricants Lanka PLC carries on the business of importing, blending, distributing and marketing of lubricant oils and greases.

The firm reported earnings of 6.96 rupees per share compared to 6.25 rupees per share in the same quarter last year in interim accounts filed with the Colombo Stock Exchange showed.

In the September quarter revenues fell 3 percent to 2.99 billion rupees, cost of sales also fell 11 percent to 1.62 billion rupees and gross profits increased 9 percent to 1.37 billion rupees.

Finance income of 48 million rupees, was up 90 percent a year earlier.