India's Panama Petrochem sinks on quarterly profit fall

Panama Petrochem

02/02/2024 08:37

** Shares of specialty petroleum products maker Panama
Petrochem  PAPT.NS  fall 5.8% to 340.7 rupees, steepest drop
since March 2023
    ** Co reported a 17.5% fall in Q3 consol profit, rev from
ops down 10.6% 
     ** PAPT reported over 30% fall in Q2 profit on Nov 8, stock
has gained ~17% since, per last close 
    ** Stock gained 7.6% in December quarter, while it lost 4.2%
in 2023 after logging gains for three straight years 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))