Whilst, comparing to the previous quarter, the company’s revenue has sharply dropped to Rs. 10.68 billion from Rs.18.43 billion.
During the June quarter, there was a significant drop in fuel demand, due to the Coronavirus (COVID-19) pandemic. However, during this quarter there was a sharp decline in global fuel prices as well.
The company had reported a loss of Rs.239 million for 2019/20 April- June quarter, and this has increased up to Rs.795.45 million in the June 2020 quarter.