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High input costs and subdued market conditions have contributed to a more than 50 per cent drop in net profit of Seshasayee Paper and Boards during the third quarter of the current year as compared with the corresponding quarter previously.
The company has reported a net profit of Rs 4.68 crore on a turnover of Rs 147.51 crore for the quarter ended December 31. During the corresponding period in 2010 the company reported a net profit of Rs 10.67 crore on a turnover of Rs 150.19 crore.
According to a company press release, lower production, at 30,035 tonnes (30,294 tonnes) and lower sales at 26,924 tonnes (30,308 tonnes) and increasing costs of raw material and inputs, including wood and bagasse, imported coal and chemicals, contributed to the drop in net profits.
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