India's Andhra Paper falls on Q2 profit slump

Andhra Paper

05/11/2024 04:12

** Shares of paper and packaging company Andhra Paper  ANDA.NS 
fall 3.1% to 98.33 rupees in early trade
** Co reports 58% plunge in Sept-qtr net profit after tax to
417.2 million rupees (~$5 mln); rev from ops fell 10%
    ** ANDA lost about 6% in October, third straight month of
losses
    ** Stock down ~20% so far this year, on track to snap
three-year winning streak
    ** Rival Pudumjee Paper Products  PUDJ.NS  is up around 149%
while Emami Paper Mills  EMAP.NS  is down about 11%
     
     
     
    ($1 = 84.1125 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)
((dimpal.gulwani@thomsonreuters.com))