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state-run oil marketing companies report 88 percent profit decline in Q2

State-run oil marketing companies (OMCs) faced a challenging second quarter in 2024-25, with a combined net profit plummeting 88% to Rs 3,208 crore, down from Rs 26,586 crore the previous year. This decline was attributed to weak refining margins and lower product cracks, impacting earnings before interest, taxes, depreciation, and amortization (EBITDA) significantly. Analysts noted that Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) all reported substantial misses in their earnings due to these unfavorable market conditions.
Moneycontrol
United States Dollar Bharat Petroleum Corporation Limited Hindustan Petroleum Corporation Limited Indian Oil Corporation Limited IND Emkay Global Show more
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13:29 29.10.2024
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