GRMs

MRPL's standalone net profit plummeted over 40 per cent to Rs 1,138 crore in Q4FY24, from Rs 1,913 crore in Q4FY23

The bullish outlook stems from Reliance Jio's potential tariff hikes, given the competitive landscape, along with slow but steady improvement in the oil-to-chemical (O2C) vertical

Lower global crude prices, higher gross refining margins have driven overall marketing margins upwards

The company's revenue rose 63% to Rs 2.52 trillion as against Rs 1.55 trillion in Q1FY22

GRM stood at $4.12 per barrel in Q1FY22 as against $0.39 per barrel a year ago

Analysts said there had been a slowdown in refining demand in certain global markets, and India's diesel demand was slowing down

With more competition, analysts expect more pressure on marketing volumes at the state firms