Earnings IOC Q2 review: Earnings hit due to lower GRMs, higher inventory losses and debt Updated : November 01, 2019 11:35 AM IST The reported gross refining margins (GRMs) came in at $1.3 per barrel against an expectation of $5.2 per barrel, a 72 percent decline QoQ and 82 percent decline YoY. This time, inventory losses came in at Rs 1,807 crore which compares with inventory gains of Rs 2,300 crore QoQ and Rs 2,905 crore YoY. IOC lost 10-50 basis points QoQ market share in the auto fuels and 20 basis points overall. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.