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News Details

Panama Petrochem Q3 net profit zooms 1477.57% at Rs 50.64 cr

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03/02/2021 18:10
The company reported standalone net profit of Rs 50.64 crore for the quarter ended December 31, 2020 as compared to Rs 3.21 crore in the same period last year, registering a year-on-year growth of 1477.57 per cent.

Net revenue of the company rose substantially by 92.74 per cent at Rs 362.25 crore in October-December quarter of this fiscal as against Rs 187.95 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 62.42 per cent to Rs 292.16 crore from Rs 179.88 crore in year ago period.

Other Income grew by 334.43 per cent at Rs 2.65 crore versus (Dec'19 Rs 0.61 crore).

Operating Profit surged by 768.53 per cent to Rs 70.09 crore as against Rs 8.07 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 351.05 per cent in December quarter.

Interest declined by 52.30 per cent y-o-y to Rs 1.45 crore, while Taxation increased by 1479.67 per cent at Rs 19.43 crore (Dec'19 Rs 1.23 crore).