India's Panama Petrochem slides after Q1 profit drop

Panama Petrochem

28/07/2023 08:36

** Shares of Panama Petrochem Ltd  PAPT.NS  fall as much as
4.5% to 295.1 rupees, biggest intraday pct. loss since May 31
    ** Petroleum products maker says June-qtr consolidated
profit falls nearly 29% to 458.9 mln rupees ($5.58 mln), hurt by
4% fall in revenue from operations
    ** Trading volume at ~203,000 shares as of 1 p.m. IST, 2.2x
the 30-day avg  
    ** Stock last down ~12% YTD 



($1 = 82.2600 Indian rupees)

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))