Rising under-recoveries to shave operating profit margins of OMCs: Report
Thinner spreads and rising under-recoveries are expected to shave the operating profit margins of oil marketing companies (OMCs) by 1.5-1.7 per cent this fiscal, even as crude prices remain elevated and volatile, a report said. According to the rating agency Crisil, operating margins had declined 1.6 per cent in fiscal 2019. "We also foresee net profit margins coming under pressure because of higher interest costs. OMCs have had to contract 22 per cent more short-term debt last fiscal because of inadequate payments from the government... Читать дальше...