Uflex gaining ground owing to good results

India’s largest global flexible packaging solution company, Uflex Limited has reported a 13% jump in the consolidated net profit for the quarter ended June 30, 2016 as compared to the same quarter in the previous fiscal. The net profit for Q1FY17 stands at 86.2 crore as opposed to 76.2 crore in the last financial year.

Consolidated EBITDA for Q1FY17 has been 228.4 crore as compared to 219.3 crore recorded in Q1FY16, thereby clocking in a growth of 4%.Consolidated net revenue stands at 1538.70 crore, declining by 4% as compared to 1605.00 crore, recorded in Q1FY16. While there has been a drop in net revenue caused by lower sales price owing to sliding raw material costs, the volumes during the quarter have grown by 3%.

In an official newsletter released soon after declaring the earnings for Q1FY17, Ashok Chaturvedi, chairman and managing director, Uflex Limited said, “The new financial year has commenced on an exhilarating note with product innovation, process improvements, technological collaborations and partnerships fortifying a positive change. I am pleased to inform that we have inaugurated a Fully Automatic Robotic Laser Engraving Line at our Noida facility in technical collaboration with M/s. Think Lab, Japan.”

Uflex is India’s largest end-to-end flexible packaging company and an emerging global player.

Uflex is trading up by almost 3.80 per cent on Thursday on an intraday basis at 9.31 am. The stock is trading at Rs 245.60 per share.