Uflex, India's largest global flexible packaging company, has registered a 38 percent growth in its consolidated net profit for the third quarter of 2015-16, when compared to the same period during the previous financial year.
Net profit stood at Rs. 78.7 crore as compared to Rs. 57.1 crore during the third quarter of 2014-15.
Consolidated total revenue for the third quarter of 2015-16 was slightly lower year-on-year at Rs. 1511 crore as compared to Rs. 1533.8 crore.
Uflex said this was due to fall in selling prices of packaging films mainly owing to the drop in the prices of raw materials.
Consolidated total revenue for the first nine months of the 2015-16 financial year is 4651 crore, while the consolidated net profit for the same period stands at Rs. 232.6 crore, up from Rs. 186.2 crore when compared to the same period during last financial year, thus registering a bottom line growth of 25 percent.
Ashok Chaturvedi, Uflex Group chairman and managing director, commented: ‘I am glad that the innovation quotient of the organization has been continuously rising – a fact that is well evident from the consistent growth in our bottom line. We always endeavour to offer flexible packaging solutions that add discernible value to the business of our clients. This is a collaborative process, wherein our product team proactively interfaces with our clients to design unique and optimized packaging solutions exactly matching their requirements in terms of barrier properties, functionalities, aesthetics and anti-counterfeiting properties among other parameters. We stand committed to deploy cutting edge technology to the best advantage of our clients.
‘The path ahead looks extremely encouraging and promising. Let’s walk it together with pride.’