The Andhra Petrochemicals reported a net loss of Rs 8.42 Cr for the quarter.

This was primarily due to lower product prices without a proportional decrease in raw material costs, coupled with high imports and competition from substitute products.

In a recent board meeting, the company appointed Sri K.S.S.Aditya as a new Director and reconstituted various key board committees, including Audit and Risk Management, effective post the upcoming Annual General Meeting.

An ongoing legal matter regarding the renewal of its land lease with Visakhapatnam Port Authority remains unresolved, with an appeal pending in the Hon'ble High Court, impacting the accounting for leases.