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LIOC prepares to celebrate higher profits

April, 10, 2014

Lanka India Oil Company (LIOC) has increased its profits during the last quarter ended on 31 March 2014, said the company’s chief.

While speaking to AdaderanaBiz, LIOC Managing Director Sobodh Dakwale said, “Though we have still not released our financial statement for the last quarter ending 31 March, we can confidently say that the profits this time are higher than the last quarter.”

Though LIOC is enjoying profits in the fuel market in Sri Lanka, it local counterpart, the Ceylon Petroleum Corporation continues to incur huge losses.

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