IOC Q2 Review - Prospects Improving Steadily: Centrum Broking

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..Centrum Broking Report.Indian Oil Corp. posted recurring Ebitda/profit after tax of Rs 106.3/63.6 billion for Q2 FY22 (up 13%/up 2% YoY; down 4%/up 7% QoQ), below our estimate of Rs 123.8/69.5 billion, driven by weak refining throughput and marketing volumes, though gross refining margins were in-line and marketing margins were above estimates. Reported GRMs were $6.6/barrel of oil (up $2/bbl YoY/flat QoQ; our estimate: $6.7/bbl). Estimated blended marketing margins were Rs 6,355/tonne ( up 16% YoY; up 30% QoQ) versus our estimate of Rs 6,011/tonne. IOC's recovery in fuel consumption has picked up pace for gasoline/liquefied petroleum gas in July-August but Diesel and aviation turbine fuel are hampering overall recovery; refining and petchem are showing encouraging trends..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

IOC Q2 Review - Prospects Improving Steadily: Centrum Broking

IOC Q2 Review - Prospects Improving Steadily: Centrum Broking

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