Indian OMCs set to register 3x pre-tax profit of Rs 1 lk cr in FY24: Report

Indian oil marketing companies are set to register a record pre-tax profit of at least Rs 1 lakh crore in the current fiscal (FY24) , reported PTI, citing a report by Crisil on Wednesday.

In a note, it said that the oil marketing companies (OMCs) may see operating profit rebounding to Rs 1 lakh crore this fiscal, compared with an average of Rs 60,000 crore between fiscals 2017 and 2022, and thrice of the last fiscal’s low of Rs 33,000 crore.