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IOC Q2 Review - GRM Improvement Drives Profitability: ICICI Direct

IOC Q2 Review - GRM Improvement Drives Profitability: ICICI Direct

<div class="paragraphs"><p>A motorcyclist exits an Indian Oil Corp. gas station in Bengaluru. (Photographer: Dhiraj Singh/Bloomberg)</p></div>
A motorcyclist exits an Indian Oil Corp. gas station in Bengaluru. (Photographer: Dhiraj Singh/Bloomberg)

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.

Click on the attachment to read the full report:

ICCI Direct Indian Oil Corporation Q2FY22 Results.pdf

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