During the June quarter of 2015 Lanka Indian Oil Company’s (LIOC) profits have dropped by 86 per cent to Rs. 171 million as against the same period in 2014.

The volume of fuel sold by LIOC during the June quarter of 2015 has dropped by 18.7 per cent bringing in a income of Rs. 17.4 billion.

Hence, the company’s earnings per share have dropped to 32 cents.

Meanwhile, during this quarter Lanka Indian Oil Company’s other earnings have dropped drastically while expenditure has increased hugely.

Since currently fuel is being subsidized in Sri Lanka LIOC is facing a tough time.