Andhra Petrochemicals Reports Q1 Loss, Appoints New Director
Andhra Petrochemicals Limited reported a net loss of Rs 841.64 lakh for Q1 FY24, compared to a profit of Rs 1,590.69 lakh in Q1 FY23. Revenue from operations slightly declined to Rs 14,145.71 lakh. The loss is attributed to lower product prices, steady raw material costs, heavy imports, and competition. The company appointed K.S.S. Aditya as a new director, replacing Y.S.S. Suresh, and reconstituted various board committees.