Andhra Pradesh Paper Mills Limited (APPM) reported a net loss of Rs 21.43 crore for the third quarter ended December 31, 2011, as against a net profit of Rs 8.2 crore in the corresponding quarter last year. Total income stood at Rs 194 crore, up 10.28 per cent from Rs 175.91 crore. Expenditure increased 28.13 per cent to Rs 199.41 crore (Rs 155.63 crore).
The company has appointed Rampraveen Swaminathan as additional director and also MD and chief executive of the company for five years from the date of joining, and Praveen P Kadle as additional independent director effective January 25, it informed the BSE.