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Seshasayee Paper and Boards Ltd reported a 39 per cent jump in net profit for the first quarter of 2012-13 compared with the corresponding period last year. An increase in demand backed by the academic season demand early in the quarter and cost control contributed to the growth in net profit for the paper manufacturer. For the quarter ended June 30, the company reported a net profit of Rs 11.18 crore (Rs 8.02 crore) on a total income of Rs 157.65 crore (Rs 132.65 crore), according to a release from the company. The company has obtained the clearance from the stock exchanges for the merger of SPB Papers Ltd with itself, and will soon seek court approval.
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