Ecopetrol: reasons for the sharp drop in earnings for the first quarter of 2023 – Companies – Economy
The increase in the effective income tax rate prevented Ecopetrol's profits from growing, not only quarterly, but also annually. This is clear from an analysis carried out by the brokerage firm Casa de Bolsa, in which it even explains that despite the drop registered in the profits of the Colombian oil company in the first three months of the year (13.9 percent), the They exceeded the expectations that not only this firm had, but also the other market agents. (Also read: After the quarterly report, Ecopetrol shares fall in Colombia and New York) "If it were not for the increase…
