Panama Petrochem Q4 net profit down 28.46% at Rs 38.49 cr
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
The company reported standalone net profit of Rs 38.49 crore for the quarter ended March 31, 2022 as compared to Rs 53.80 crore in the same period last year, registering a year-on-year decline of 28.46 per cent. Net revenue of the company declined substantially by 20.33 per cent at Rs 346.00 crore in January-March quarter of this fiscal as against Rs 434.31 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 18.16 per cent to Rs 295.45 crore from Rs 361.02 crore in year ago period. Other Income grew by 137.17 per cent at Rs 2.68 crore versus (Mar'21 Rs 1.13 crore). Operating Profit slipped by 31.04 per cent to Rs 50.55 crore as against Rs 73.30 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 13.45 per cent in March quarter. Interest declined by 34.09 per cent y-o-y to Rs 0.87 crore, while Taxation decreased by 30.82 per cent at Rs 12.48 crore (Mar'21 Rs 18.04 crore).
