India's Panama Petrochem down 3% after Q4 profit falls

Panama Petrochem

30/05/2023 09:27

** Shares of Panama Petrochem Ltd  PAPT.NS  fall as much as
3.01% to 291.80 rupees
    ** Petroleum jelly manufacturer reports 9.6% YoY fall in Q4
consolidated profit, while revenue rises marginally by 0.4%
    ** Co recommends final dividend of 5 rupees per shr for
FY2023
    ** Share price below 50-day, 100-day and 200-day simple
moving averages, suggesting bearish trend
    ** More than 147,000 shares change hands by 1:49 p.m. IST,
4x the 30-day avg
    ** Including session's loss, stock down 15.51% YTD


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))