Panama Petrochem announced that its wholly owned subsidiary Panol Industries RMC FZE incorporated in UAE, has executed an Musataha (Lease) Agreement with RAK Maritime City Free Zone Authority for Plot No. 25, located at RAK Maritime City Free Zone, having an area of 9500 square meters for a period of 25 years. The lease agreement is for a sum of AED 522,500 per annum for the first year. The consideration shall be subject to increase every year by 4% of the then current Consideration. Powered by Capital Market - Live News

Panama Petrochem will hold a meeting of the Board of Directors of the Company on 27 May 2024Powered by Capital Market - Live News

Net profit of Panama Petrochem declined 17.53% to Rs 41.36 crore in the quarter ended December 2023 as against Rs 50.15 crore during the previous quarter ended December 2022. Sales declined 10.63% to Rs 511.83 crore in the quarter ended December 2023 as against Rs 572.69 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales511.83572.69 -11 OPM %10.9811.86 - PBDT54.2266.21 -18 PBT51.8263.78 -19 NP41.3650.15 -18 Powered by Capital Market - Live News

Panama Petrochem has received a Letter of Acceptance against Tender, for procurement of 2000 MT Base Oil from Indian Oil Corporation. The value of the order is Rs 22.30 crore. Powered by Capital Market - Live News

Panama Petrochem will hold a meeting of the Board of Directors of the Company on 2 February 2024.Powered by Capital Market - Live News