GRMs of OMCs to decline from the highs of Q1: Fitch Ratings

GRMs of OMCs to decline from the highs of Q1: Fitch Ratings

While rating agency Fitch Ratings expects petroleum demand growth to pick up to 7-8 per cent in FY23 from 5 per cent in FY22, gross refining margins are seen declining. “Fitch expects core gross refining margins (GRMs) to moderate from the highs of 1QFY23 but remain close to mid-cycle levels in 2HFY23, benefitting from supportive … Read more

RIL Q2 takeaways: Petchem, Jio outperform; but GRM disappoints

photo

NEW DELHI: Reliance Industries, the biggest conglomerate in India, beat analysts’ estimates in September quarter earnings, with some segments performing brilliantly, but a close inspection reveals some areas of weakness. Telecom was the outperforming segment and it saw exceptional growth during the quarter led by increased usage of telephony. The media business also improved performance. … Read more