Litro Gas Lanka ends 2018 on a high note
View(s):Litro Gas Lanka, Sri Lanka’s the largest importer and supplier of LP Gas, won numerous awards and accolades for its performance excellence, dedication to sustainability and successful implementation of standardisation in 2018.
“The line-up of awards signifies the success of the company’s core intent to ensure long-term success and viability through profitability, performance excellence and standardisation,” the company said in a media release.
Illustrating the company’s business performance and brand power, Litro won the Gold award in the National Level State Services Sector at the Ceylon National Chamber of Industries Award 2018 and the Golden Globe Tigers 2018 Market Leadership Award for excellence in branding and marketing.
It won the Gold Award in the extra-large Category at the Achiever Awards by the Ceylon National Chamber of Industries (CNCI). Proving the company’s digital prowess, Litro clinched the ZeroOne Award for Best website in the Manufacturing, Transportation, Storage and Logistic Sector and the ZeroOne Runner’s up Award for Best use of Mobile in the Manufacturing, Transportation, Storage and Logistic Sector.
Revealing how domestic challenges affected LPG players in Sri Lanka, Litro Gas Managing Director, Muditha Peiris said: “Price regulations affected the entire LPG industry in Sri Lanka causing, LPG companies to sell domestic gas cylinders at a loss of Rs. 100 to Rs. 470 per cylinder depending on the monthly CP.”
Global LPG price (CP) is based on USD. As the value of rupee continues to drop against the US dollar, the cost of purchase, transportation and inward customs clearance too keeps on increasing. Consequently, unprecedented exchange rate fluctuations experienced in Sri Lanka had a negative operational and financial impact on the local LPG industry.
“Freight and shipping cost too plays a critical role in determining the financial performance of LPG companies. While freight and shipping cost is largely out of control of LPG players, we effectively managed to bring down this particular cost to a record low rate,” noted Mr. Peiris.