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High costs of raw materials, fuel and inputs have hit Seshasayee Paper and Boards Ltd during the second quarter ending September 30, 2011. The profit after tax dropped over 50 per cent to Rs 12.32 crore on a turnover of Rs 165.54 crore against that of the corresponding quarter last year, when it reported a net profit of Rs 25.22 crore on a turnover of Rs 304.49 crore.
Market conditions are also unfavourable with paper prices being rolled back to generate demand, according to a press release from the company. On the NSE the company's shares of Rs 10 closed at Rs 209.15 against the previous close of Rs 207.80.
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