Andhra Pradesh Paper Mills Ltd has 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.
The company’s income from operations was marginally higher at Rs 247.66 crore for the quarter ended September 2013 as against Rs 241.97 crore for the corresponding quarter last year.
AP Paper Mills, with two plants in Andhra Pradesh, is a subsidiary of International Paper Holding Asia Singapore Pte. Ltd and part of the global/US paper major International Paper.
During the current quarter, the company took up planned maintenance shutdown for 22 days. This impacted the financial performance of the company for the September quarter and also for the first six months during the current financial year.
The company’s board had in January decided 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.
The company had closed last financial year (for extended period of 15 months ended march 31, 2013 with a loss of Rs 23.70 crore and a total income of Rs 1,243.68 crore.
AP Paper shares were trading at Rs 281.20, down 4.26 per cent during the day’s trade on the BSE.