'Corporates to see 25 % acceleration in profit growth in FY14'
PTI: Mumbai, Feb 17 2013, 15:46 IST
reliance of the petroleum products industry on subsidies and aid its bottomline, it added.
The net profit of the petroleum products industry are expected to climb up to 4.4 per cent of income in 2013-14 from an expected 2.2 per cent in 2012-13. The petroleum products industry accounts for 10-15 per cent of total corporate profits and hence its profit growth has a strong bearing on the overall profit performance of corporate India.
Industries engaged in manufacture of other crude oil derivatives such as chemicals, polymers, plastics and paints are also expected to reap the benefits of around 7 per cent fall in landed cost of crude oil imports in 2013-14, CMIE said.
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