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By Bandula Sirimanna
Cutting administration costs and overheads through modern management practices and right pricing of petrol and diesel have bolstered the profits of Lanka IOC, a subsidiary of Indian Oil corporation, in the financial year 2010-2011, a top official of the company said.
Lanka IOC Managing Director K. R. Suresh Kumar told the Business Times that the company has made a profit of Rs. 876 million in the financial year 2010-2011 compared to a loss of Rs. 422 million in the previous year. The revenue of the company also increased from Rs. 50.21 billion to Rs.51.74 billion in 2010-2011. The Lanka IOC has made around 40 % of its profits from lubricants, bitumen and bunkering business other than the sale of petrol and diesel, he revealed.
http://www.sundaytimes.lk/110612/BusinessTimes/bt11.html
Cutting administration costs and overheads through modern management practices and right pricing of petrol and diesel have bolstered the profits of Lanka IOC, a subsidiary of Indian Oil corporation, in the financial year 2010-2011, a top official of the company said.
Lanka IOC Managing Director K. R. Suresh Kumar told the Business Times that the company has made a profit of Rs. 876 million in the financial year 2010-2011 compared to a loss of Rs. 422 million in the previous year. The revenue of the company also increased from Rs. 50.21 billion to Rs.51.74 billion in 2010-2011. The Lanka IOC has made around 40 % of its profits from lubricants, bitumen and bunkering business other than the sale of petrol and diesel, he revealed.
http://www.sundaytimes.lk/110612/BusinessTimes/bt11.html
