India's Panama Petrochem falls most in nearly 2-weeks on profit drop

Panama Petrochem

09/02/2023 08:14

** Shares of Panama Petrochem Ltd  PAPT.NS  fall as much as
3.7% to 312 rupees, biggest intraday pct. loss since Jan. 27 
    ** Petroleum jelly manufacturer reports 7.3% fall in Dec-qtr
profit to 501.5 mln rupees, hurt by soaring input costs
    ** Revenue from operations rise 12.4% to 5.73 bln rupees
    ** Stock trading below its 50-day and 100-day moving
averages
    ** More than 72,200 shares change hands by 1:30 p.m. IST, vs
30-day avg of ~69,500 shares
    ** Stock was down 39.4% last year
 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))