OMC earnings surge 144% as petroleum demand stays weak
Sales rose 4 percent from July to October on furnace oil, while petrol and diesel demand stayed soft and listed oil marketing company earnings jumped 144 percent.
Total petroleum sales reached 5.59 million tons in July-October FY27, up 4% year-on-year.
Excluding furnace oil, sales fell 2% over four months and 6% in October alone.
Furnace oil consumption more than tripled in October to 95,000 tons, linked to RLNG supply disruptions.
Petrol averaged about Rs387 per litre in October, up 46%; diesel averaged Rs396, up about 45%.
Listed oil marketing company earnings rose 144% in the first quarter of FY27, driven mainly by prices and inventory gains.