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Chennai Jan. 19 Seshasayee Paper and Boards Ltd has more than doubled its net profit to Rs 7.97 crore on gross sales of Rs 125.47 crore for the quarter ended December 31, 2006.

During the corresponding period in the previous year the company reported a net profit of Rs 3.50 crore on gross sales of Rs 117.30 crore.

Production was 31,205 tonnes (30,548 tonnes) and sales 30,804 tonne (29,836 tonnes). Exports were also higher at 5,092 tonnes (4,862 tonne).

The reasons for the profitability growth include higher production and net sales realisation and the cut in excise duty to 12 per cent from 16 per cent.

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