a loss in book accounts does not mean necessarily loss making venture & similarly a profit in book accounts does not mean necessarily profit making venture !
Oh boy.. You are rediculing yourself to the maximum..
These are listed companies and the accounts are audited by reputed auditors..
In Sri Lanka, LIOC accounts are audited by Price Waterhouse Coopers..
If you think a pulicly listed company can show a loss when they actually have profits, you are a real idiot..
LIOC imports all the fuel from middle east, refine them in india & then transport them to srilanka to sell them.
ha.. ha.. ha..
So if you have imported more, they will be part of the closing balance of the stocks which is shown as an asset in the balance sheet..
This will not affect the profits..
Now I am in fits of laughter reading your accountancy theories..
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