Paper manufacturer Andhra Pradesh Paper Mills Limited, part of the Kolkata-based LN Bangur group, earned a net profit of Rs 54.19 crore for the financial year ended March 31, 2010, up 185.96 per cent from Rs 18.95 crore last year. Revenues stood at Rs 650 crore, up 2.68 per cent from Rs 633 crore last year.
The company during the quarter concluded the rights issue of equity shares and detachable warrants for raising about Rs 35 crore. Commercial production from new paper machine with writing and printing paper capacity of 67,000 tonne per annum is expected to start this month, a release said.
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