The Ceylon Petroleum Corporation (CPC) suffered a 26.9 percent revenue loss in 2024 since the entry of international suppliers to the local market, said the Ministry of Finance in a statement.
The CPC’s Rs. 1,263.6 billion earnings in 2023 dropped to Rs. 923.4 billion in 2024.
It sold 4,184 million litres in 2023, which declined by 286 million litres in the following year.
Its gross profit decreased by 53.4 pc to Rs. 75.6 billion, said the report, adding however, the net profit stood at Rs. 33.3 billion owing to the fuel pricing formula and the rupee’s appreciation.
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