{"id":433133,"date":"2021-08-31T12:16:37","date_gmt":"2021-08-31T06:46:37","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=433133"},"modified":"2021-08-31T12:16:56","modified_gmt":"2021-08-31T06:46:56","slug":"low-fuel-demand-growth-hsbc-cuts-earnings-forecasts-for-omcs","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/low-fuel-demand-growth-hsbc-cuts-earnings-forecasts-for-omcs\/","title":{"rendered":"Low fuel demand growth: HSBC cuts earnings forecasts for OMCs"},"content":{"rendered":"<p>Analysts at HSBC have trimmed their earnings forecasts for state-run oil marketing companies (OMCs) for FY22 and FY23 from earlier projections, citing lower-than-anticipated growth in the country\u2019s auto fuel consumption.<\/p>\n<p>The core profit after tax of Indian Oil Corporation (IOCL) in FY22 will be Rs 13,514.2 crore, down 5% from the earlier estimate, according to a note by HSBC. The profit projected for FY23 now stands at Rs 16,467.2 crore, 6% lower than the previous forecast.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysts at HSBC have trimmed their earnings forecasts for state-run oil marketing companies (OMCs) for FY22 and FY23 from earlier projections, citing lower-than-anticipated growth in the country\u2019s auto fuel consumption. The core profit after tax of Indian Oil Corporation (IOCL) in FY22 will be Rs 13,514.2 crore, down 5% from the earlier estimate, according to a note by HSBC. The profit projected for FY23 now stands at Rs 16,467.2 crore, 6% lower than the previous forecast.<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-433133","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/433133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=433133"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/433133\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=433133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=433133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=433133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}