Oil Giants Brace for Q3 Shock: Profits Plunge Amid Inventory Woes and Refining Struggles!
In the third quarter of the fiscal year 2024, state-owned oil marketing companies (OMCs) such as IOC, BPCL, and HPCL are expected to witness a significant decline in operating profits, following a robust first half. Analysts attribute this anticipated downturn to inventory losses and lower gross refining margins. According to Emkay Global, the diesel marketing … Read more