Revenue declined 20.8% QoQ to Rs 28452.9 crore in Q2FY23. Crude throughput was 3.96 MMT, down 7.7% QoQ while GRMs were at US$ (- 4.46)/bbl. EBITDA loss stood at 1994.8 crore. Subsequently, Net loss was Rs 1789.1 crore.
GRMs have declined amid decrease in transport fuel product cracks and inventory losses during Q2FY23. Additionally, imposition of windfall tax on fuel exports limited the refining profitability. Increase in GRMs will be key monitorable, going forward
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