Photo: MintInventory gains are becoming a norm for refining companies’ June quarter results. Hindustan Petroleum Corp. Ltd’s (HPCL) results too show the same trend. GRM is a measure of profitability for refining companies and was higher than expected for HPCL. Refining inventory gain is about $2 a barrel. Meanwhile, HPCL’s results indicate that peers BPCL and IOCL too are likely to report good June quarter numbers.

Source: Mint August 25, 2016 04:07 UTC