India's Panama Petrochem falls after Q2 profit declines

Panama Petrochem

12/11/2024 07:45

** Shares of Panama Petrochem Ltd  PAPT.NS  fall as much as
3.9% to 356.05 rupees 
    ** Petroleum products maker reported a 6% y/y fall in Q2
consol profit to 440.9 mln rupees; rev grew 21.7% y/y
    ** Stock on track to drop for fourth straight day
    ** Over 89,000 shares traded as of 1:02 p.m. IST, vs 30-day
moving avg of 54,815 shares
    ** PAPT last down 3.3%, cutting YTD gains to 8% so far

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))