Indian Oil Corporation (IOCL) reported refining throughput of 18.7mmt with reported GRM of USD2.15/bbl, led primarily by inventory losses. Domestic marketing sales volume stood at 22.4mmt with implied gross marketing margin (GMM) of Rs8.3/lit. Reported standalone EBITDA came in at Rs126.1bn (Ple Rs172bn, BBGe Rs156bn, +46% YoY, -7% QoQ), YoY rise primarily led by rise in GMM. Standalone PAT came in at Rs56.9bn (Ple Rs92.9bn, BBGe Rs86.3bn). Petrochem EBIT stood at a loss of Rs10.2mn. While GRMs remain subdued at...