Haldia Petrochemicals Limited (HPL) has reported a loss of Rs 275 crore in 2008-09 (unaudited) as compared to a profit of Rs 279 crore a year ago. HPL has suffered its first losses after five consecuttive years of profits, mainly due to a 5% import duty imposed on naphtha in the 2008 budget, coupled with deteriorating polymer prices that have hit profitability.
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Wednesday, May 13, 2009
5 consecutive years of profit at Haldia Petrochemicals ends in losses
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