GRMs

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