IOC Q2 Review - GRM Improvement Drives Profitability: ICICI Direct
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Indian Oil Corporation Ltd. is India’s largest refining and marketing company with an installed refining capacity of ~70 million metric tonnes.
IOC operates 32,062 retail outlets as of end of FY21.
Petrol and diesel together historically constitute ~52% of marketing sales.
IOC’s results were better than estimates on the profitability front.
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