Reported integrated margin (EBITDA per tonne of refining and marketing volume) fell 67% YoY. However, adjusting for inventory and LPG losses, Q2 integrated margin was healthy at INR 3,835/tonne and above FY21-24 (post Covid) average of INR 2,937/tonne and FY16-19 (pre Covid) average of INR 2,051/tonne.
