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Corporate Results
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Paper, Board & Newsprint
States
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Andhra Pradesh
AP Paper Q1 income up at Rs 180 cr
Hyderabad, July 29
Andhra Pradesh Paper Mills Ltd, who owns the
elemental chlorine free paper brand `Andhra', has
registered an income of Rs 180 crore in the first quarter
ended June 2008 as against Rs 125.16 crore, showing a
growth of 44 per cent. The profit before `exceptional
items', was Rs 15.93 crore. The company, however,
reported a net post tax loss of Rs 2.15 crore on account of
the exceptional items that were put at Rs 18.05 crore.
"This was due to unrealised exchange loss on restatement
of foreign currency borrowings and also MTM (mark-tomarket)
losses due to sharp depreciation of rupee against
the dollar and euro during the quarter," Mr L.N. Bangur,
Chairman, said here in a press release. He said the
company could cut down on power and fuel consumption
by 25 per cent this quarter. - Our Bureau
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