And, also check if you have QTP > Automation > Record & Run Settings > Web tab > "Record and run on any open browser" option selected, as already suggested by Murty above.
Btw, are you opening the web AUT manually after QTP?
Then, also try opening it from script (with SystemUtil.Run statement) and from Record & Run Settings by choosing the other option and specifying the URL of the web AUT. Do you observe the problem in any of those cases?
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