Sri Lanka, Aug. 20 -- Distilleries Company of Sri Lanka PLC recorded a higher bottom-line performance for the quarter ended in June, amid the higher prices caused by the January hike in the excise duty.
Sri Lanka's largest distiller, with a market share of over 70 percent, reported revenue of Rs.37.13 billion for the quarter, up 14.7 percent from the same period last year but the increase in the net revenues languished at a 4.3 percent growth to Rs.12.68 billion.
Sri Lanka raised excise duty on liquor by 5.9 percent in January 2025, to make up for the loss in tax revenue from the increase in the tax-free threshold of personal income.
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