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IOC's performance: The best is yet to come
Nov 02: Indian Oil Corporation Ltd's (IOCL's) Q2 performance under performed estimates made by analysts.
8But there is a belief that the best is yet to come.
8IOCL’s Q2 earnings (against losses YoY) underperformed estimates on below-expected GRMs at US$ 4.3/bbl, lower refining throughput at 15.64MMT (+14%YoY) and lower marketing margins (against losses YoY).
8What saved the day was better performance posted by the petrochemicals and pipeline segments
8It is now believed that the Paradip refinery ramp-up should elevate the company’s GRMs to US$ 6-7/bbl from FY18.
8So stock brokers are extremely bullish on the company's performance after a conference call between them and the company brass
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