Sri Lanka, April 23 -- Lanka IOC PLC kicked off the March earnings season by reporting some subdued top and bottom-line performance for the 4Q25 period.

This could be attributable to fuel price cuts at the pump although mobility and industrial activities, which create demand for fuel continued to rise in line with the expansion in the economy.

The largest private sector distributor of oil reported revenues of Rs.67.10 billion in the January - March quarter, registering a decline of 10.7 percent from the same period in 2024.

However, the cost of sales fell a little faster by 11.3 percent to Rs. 61.54 billion, reflecting the muted prices for oil in the global market.

This helped the company to stretch its gross margin slightly to 8.3 pe...