Andhra Petro net loss at Rs 6.36 cr

Net sales declined 57.41% at Rs 55.48 cr, when compared with Rs 122.52 cr during the corresponding a year ago

Andhra Petrochemicals Limited incurred a net loss of Rs 6.36 crore during the third quarter of the current financial year, as against a loss of Rs 3.25 crore for same period last year. Net sales declined 57.41 per cent at Rs 55.48 crore, when compared with Rs 122.52 crore during the corresponding a year ago.

In a filing to the BSE, the company stated a major fire in Hindustan Petroleum Corporation (HPCL) on August 23, 2013, affected the propylene supplies, which resulted in the company shutting down its plant for 58 days during the quarter. For the remaining period of the quarter, it operated at a partial load with the propylene supplies yet to resume. The company has an insurance cover towards loss of profit on account of the fire accident.