MRPL reported its Q1FY20 numbers, which were below our estimates on the profitability front. Revenues declined 36.9% QoQ to | 11200.1 crore and came in below our estimates of | 11405.4 crore on account of lower oil throughput. GRMs during the quarter were at negative US$0.4/bbl vs. US$5/bbl in Q4FY19. They came in below our estimate of US$2.5/bbl. Oil throughput at 2.6 mmt was lower than our estimate of 2.8 mmt on account of force majeure shutdown due to water supply shortage and refinery...