Max (log_Sequence) not  increasing

Max(log_sequence) is not increasing even after enabling the profile option for debugging
SQL> select max (log_Sequence) from fnd_log_messages;
MAX(LOG_SEQUENCE)
993232471
What could be the issue here...?

You did not provide details about the profile options that you changed and the values.
Check whether the following are set at user level(Setting these at site level is not advisable):
FND: Debug Log Enabled - Yes
FND: Debug Log Level - Statement
FND: Debug Log Module - %
and then check the log_sequence.

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