Profits Up for Chevron Lanka

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Profits Up for Chevron Lanka

Chevron Lubricants Lanka Plc reported increases in profits and sales for the quarter ending June 30, compared to the same period last year.

Colombo-based Chevron Lubricants Lanka said that profit increased 8% to 461.2 million Sri Lankan rupees (U.S. $2.3 million) for the second quarter and that it was up 5% from Rs 439.4 million in 2019’s second quarter.

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Sales revenue for the second quarter was up 9% at Rs 2.8 billion and was up slightly from Rs 2.7 billion for the same period in 2019.

In interim financial statements to the Colombo Stock Exchange, the company said operating profit remained virtually unchanged at Rs 578.8 million in the second quarter but was down 5% from Rs 608.3 million in 2019’s second quarter.

Chevron Lubricants Lanka imports, blends, distributes and markets lubricants and greases. The company operates a blending plant in Sapugaskanda.

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