Feb 16, 2012 (LBO) – Sri Lanka’s LOLC group which has interest in financial services, plantations, trading and leisure said net profits for the December 2011 quarter fell 6 percent to 673 million rupees. The group reported earnings of 1.42 rupees for the quarter. For the nine months ended December 2011 the group reported earnings of 9.23 percent on profits of 7.89 billion rupees.
The stock traded at 59.70 rupees Thursday up 3.80 rupees.
The group reported revenues of 4.1 billion rupees, down 21 percent, cost of sales fell 19 percent to 2.8 billion rupees and gross profits fell at a faster 25 percent to 1.34 billion rupees.
Other income fell to 274 million rupees to 1.4 billion rupees.