Author Archives: lankaioctest

Donation of Wheel Chairs in Commemoration of 10th Anniversary

On completion of a decade of operation in Sri Lanka, Lanka IOC under its CSR Project theme “WE CARE” decided to undertake a few activities of worthy course to serve the community in which it operates.

Number of activities under the theme “We Care including blood donation camp, developing a Bio-Diversity park at Battaramulla in collaboration with the Ministry of Enviornment, English Education for rural school children,
supply of essential medicine for Cancer patients and the donation of Wheel Chairs for needy people were lined up.

People with a mobility disability or physical disability are the same as everyone else. Disability may occur anytime to anyone for various reasons – such as accidents, illness etc., results of which may make the persons’ mobility difficult.
As a responsible corporate citizen, it is our duty to support such needy people in whatever possible manner – making
life convenient, said Mr Subodh Dakwale, Managing Director of Lanka IOC PLC at the event organized to hand over the Wheel Chairs to those with mobility disability, on 11.12.2012 at its Head Office with the participation of all staff of Head Office.

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Lanka IOC profits surge to 1.39 billion

Profits at Lanka IOC the second fuel distributor in Sri Lanka surged to 1.39 billion rupees in the June 2013 quarter from 191 million rupees a year earlier.

The firm reported earnings of 2.53 rupees per share in the quarter. Revenues dropped to 18.4 billion rupees in the June 2013 quarter from 18.6 billion rupees a year earlier and cost of sales dropped faster to 16 billion rupees from 17.4 billion, almost doubling gross profits to 2.4 billion rupees from 1.26 billion.

Managing director said revenues dropped because bunker sales were weak in the quarter, lubricant volumes were up and costs were kept down. “We optimized our purchases though procurements,” he said.

Oil prices have been moderate during the period, he said.

Finance costs fell to 251 million rupees in the quarter from 442 million rupees a year earlier.

The Lanka IOC said a stronger exchange rate in the June quarter helped bring down finance costs but in the September quarter a weaker exchange rate will push up costs.

Launch of Corporate Fuel Card and XtraPremium Euro 3

His Excellency Mr Ashok K Kantha, Hon’ble High Commissioner of India in SriLanka launched Corporate Fuel card and XtraPremium Euro 3 at M/s Felix Perera, flagship Retail Outlet of Lanka IOC.

The launch took place on 01.02.2012 in presence of Mr Sudhir Bhargava, Additional Secretary MOP&NG, Govt of India, Mr M Nene, Chairman Lanka IOC, Dr Hans Wijayasuriya, Group CEO Dialog and Mr K R SureshKumar, Managing Director, Lanka IOC. CEOs of many companies in SriLanka were also present at this function to witness the launch of Corporate Fuel Card which is the first of its kind in SriLanka and provides solution to the fuel requirement of Corporates without going through intermediaries.

Corporate Fuel card has been launched by Lanka IOC with a tie up with Dialog. Under this scheme, cards will be issued to the corporate bodies which can be used for taking fuel from Lanka IOC Petrol sheds. The respective Corporate may assign different limits to the individual cards through web based solution provided by Dialog.  This will help the Corporate bodies to do away with processing of reimbursements to individual employees, tracking fuel consumption and convenience of settling the payment directly with Lanka IOC.

M/s Dialog in strategic partnership with Lanka IOC will provide necessary hardware at the Retail outlets and will provide web based interface for all the Corporates and dealers of Lanka IOC.

Lanka IOC donates ambulance to Mahadivulwewa Hospital in Trincomalee district

Lanka IOC PLC a leader among Sri Lanka oil companies completed 10 years of business operation in 2012, and to commemorate its anniversary Lanka IOC lined up various CSR activities benefiting the community where the company has its branches. One such community-based service took place on 24 June 2013 at Hotel Taj Samudra premises.

Lanka IOC donated an ambulance to the Divisional Hospital in Mahadivulwewaa, Trincomalee hospital provides healthcare services for over 10,000 people in that area and to transfer a patient to the General Hospital in Trincomalee, it takes more than an hour; the estimated distance is around 40km. Looking into this longstanding requirement of this remote area, Lanka IOC came forward to donate the ambulance.

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LIOC Managing Director, S. Dakwale in his address stated that LIOC is committed to helping the needy and poor people and providing them better services to uplift their life in future.

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Director (Marketing) addresses the 10th AGM of Lanka IOC

Addressing the 10th Annual General Meeting (AGM) of Lanka IOC held at Colombo. Mr.M.Nene Chairman Lanka IOC and Director (Marketing), Indian Oil said, “Lanka IOC will continue to play a key role in energizing and enriching the nation, supporting the endeavor of the Government of Sri Lanka, for developing the nation into a strategically important economic power in the region, under the forward-looking leadership of H.E. President of Sri Lanka.” He also added that Lanka IOC has made remarkable progress in the very first decade of its operations in Si Lanka. World-class fuels are now being offered to our valued customers in Sri Lanka for use in new generation vehicles that are increasingly popular in Sri Lanka.
With reference to the companies financial status, Mr.Nene said,”The turnover of Lanka IOC for the financial year 2011-2012 touched Sri Lanka Rs.60.4 billion while profits stood at Rs.930 million. He signed off thanking the valued shareholders for their support and promising that Lanka IOC would continue to work towards achieving energy security in Sri Lanka while focusing on offering world-class technology, products and services as part of the Company’s customer-oriented growth agenda.

Highlights of Lanka IOC

Lanka IOC PLC as one of the leaders in Sri Lanka Oil Companies had a Rs 2.83 billion net profit for the six months ended 30 September 2013, up from Rs 1.37 billion a year ago, interim financial results filed with the stock exchange showed.

Revenue for the six-month period increased to Rs 39.23 billion, up from
Rs 38.86 billion a year ago.Distribution costs fell to Rs 855.75 million, down from Rs 889.24 million a year ago.

Finance income grew to Rs 100.98 million, down from Rs 51.3 million and finance costs increased to Rs 309.49 million, up from Rs 155.84 million a year ago. Basic earnings-per-share amounted to Rs 5.32, up from Rs 2.58 a year ago

Excellent opportunities to broaden your career horizon

Lanka IOC PLC,an active player in the field of downstream petroleum marketing in Sri Lanka and ranked as No.1 amongst Corporates and Sri Lanka oil companies, now offers excellent career opportunities in the following functions.

Manager Sales (Lubes and Bitumen)
Manager -Human Resources
Executive Sales (Bitumen) – Colombo
Lubes Sale Supervisor (Non-Executive)