A study of financial performance of public sector oil and gas companies of India: A comparative analysis
Dr. Ashish Kumar Goswami
The global processes of petroleum product discovery, extraction, refining, transportation (typically through oil tankers and pipelines), and marketing are collectively referred to as the petroleum industry, often known as the oil industry or the oil patch. Fuel oil and gasoline make up the majority of the industry's volume products (petrol). Petroleum (oil) is also used as a starting point for a wide range of chemical products, such as polymers, fertilizers, insecticides, solvents, medicines, and synthetic scents. Oil and its byproducts have an extremely high monetary worth, earning them the nickname "black gold." Upstream, midstream, and downstream make up the industry's three main divisions. Petroleum is a crucial issue for many nations since it is essential to many sectors and is required to maintain industrial civilisation in its current form. Every business activity, including that of corporations, individuals, and all other forms of economic activity, depends on finance. In business, particularly in firms, finances are crucial. They ought to be accessible at the appropriate moment. If they are late, it will have a very negative impact on the company. Enterprise economic activity is aided by timely credit that is of the right kind, amount, and composition. Economic activity is hampered by credit restrictions. Therefore, having sufficient financing is crucial for business as usual. Financial performance analysis makes it possible to compare the performances of individual companies with those of other companies in the same sector or across other industries as well as to gauge the financial health of the company over time. Financial performance analysis, which measures the degree to which any entity's financial goals have been met, is one of the key components of financial risk management. It also covers the monetary evaluation of the strategies and practices of any company. The financial statement is examined and evaluated in a way that makes it easier to diagnose profitability and determine whether or not the company is financially stable. Analyzing a company's financial statements may reveal a lot about its operations, performance, and financial standing
Article Details
Unique Paper ID: 157536

Publication Volume & Issue: Volume 9, Issue 7

Page(s): 457 - 462
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