Andhra Petrochemicals said its net loss for the quarter ended June 2014 has widened to Rs 131.48. It reported a net loss of Rs 62.17 million in the same quarter previous year. Net sales for the quarter declined 42.78% to Rs 442.95 million, compared with Rs 774.17 million for the prior year period.
Earnings per share stood negative at Rs 1.55 compared with negative Rs 0.73 in the same quarter last year.
The Andhra Petrochemicals was promoted by The Andhra Pradesh Industrial Development Corporation (APIDC) and The Andhra Sugars (ASL) in 1984 as joint sector company. Subsequently the structure of the company has changed into an assisted sector company with ASL being the major share holder. The company was established with a capacity to produce 30,000 MTPA of Oxo Alcohols at Visakhapatnam, Andhra Pradesh, India.
| Quarterly Results - Standalone (Rs in mn) |
| As at | Jun - 14 | Jun - 13 | %Change |
| Net Sales | 442.95 | 774.17 | (42.78) |
| Net Profit | (131.48) | (62.18) | - |
| Basic EPS | (1.55) | (0.73) | - |
Shares of the company gained Rs 0.2, or 2.06%, to trade at Rs 9.93. The total volume of shares traded was 20,650 at the BSE (2.14 p.m., Monday).
