Saturday, July 31, 2021
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Lanka IOC improves rank amongst top 100 most valuable consumer brands in Sri Lanka

Lanka IOC PLC, the country’s top listed energy company has jumped its brand position among Sri Lanka’s top 100 brands published by the LMD Brands Annual, a most renowned brand publication of the country compiled by Brand Finance (UK).

Lanka IOC Managing Director Manoj Gupta said: “The year 2020-21 was unprecedented in terms of uncertainty, volatility and disruptions due to the challenges emerged as a result of COVID-19 pandemic. The restrictions due to lockdowns affected the market demand of products. Despite the adverse business conditions, LIOC has performed exceptionally well in the operational parameters. The company focused on cost optimisation, infrastructure modernisation, technological developments and sustainability and also emphasis on renewable solar energy.”

Lanka IOC has embarked on a journey to transform the energy sector. A subsidiary of Indian Oil Corporation Ltd., its integration with communities across the country over the last 19 years has made it a true Sri Lankan company. Keeping up with the economic development of the country, Lanka IOC plays a pivotal role in Sri Lanka’s business landscape fuelling the Sri Lankan spirit and powering the nation through vibrant channels of distribution and diversified range of products. As a responsible corporate citizen with a strong commitment towards sustainability, the wellbeing and the prosperity of the nation is our prime purpose, Gupta added.

LIOC is marketing the global ‘SERVO’ brand lubricants developed by Indian Oil in 1972. SERVO has made inroads into the highly competitive global markets. Today, it has established its footprint in more than 30 global destinations. SERVO’s vast portfolio of lubricants caters to the needs of the automotive, industrial, marine and specialties segments.

Gupta further added that brand integrity is how consumers perceive your company and its products, image, and reputation.

Maintaining a positive brand reputation increases customer loyalty, builds confidence in the market and helps position you as a leader in your space.

The best way to build and maintain your business’s reputation is by consistently acting with integrity in all your business practices and Lanka IOC is committed to build and maintain strong brand recognition, to be trusted by the customers while focusing on sustainability.

(FT)