AP Paper Mills posts Rs 45-cr loss in Q2

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Andhra Pradesh Paper Mills Ltd which is one of the biggest integrated paper and pulp manufacturing centers in India stated that it posted a Rs 45.04 crore loss for the second quarter ended September 30, 2013, as against a profit of Rs 7.54 crore for the corresponding quarter last year as the company had taken up planned maintenance shutdown for 22 days which in turn impacted the financial performance.

The income from operations of the company which produces indispensible writing, printing and copier papers for foreign and domestic markets stood at Rs 247.66 crore for the quarter ended September 2013 against Rs 241.97 crore for the corresponding quarter last year.

Earlier this year, the company's board had come to a decision to extend the financial year from January 1, 2012 to December 31, 2012 till March 31, 2013.

Consequently, the previous financial year was for an extended period of 15 months ended March 31, 2013.

AP Paper Mills which is a subsidiary of International Paper Holding Asia Singapore Pte. Ltd as well as part of the global/US paper major International Paper has two plants in Andhra Pradesh.

Read more about: andhra pradesh paper mills
Story first published: Thursday, October 17, 2013, 9:17 [IST]
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