Uflex posts FY11 net at Rs 695 cr

Uflex, flexible packaging firm, today reported an over three-fold jump in net profit to Rs 695 crore for the financial year ended March 31, 2011 on the back of strong demand.

In the year-earlier, the company had a net profit of Rs 190 crore, Uflex said in a statement.

The company attributed its strong quarter earnings to strong demand trends globally and increasing manufacturing capacities across its facilities in Egypt, Mexico, Dubai and India.

For the financial year ended March 31, 2011, Uflex recorded net revenue of Rs 3,410 crore compared Rs 2,314 crore in the previous. Thus, registering a growth of 47 per cent.

During the quarter, the company's net profit stood at Rs 181 crore as against Rs 48 crore for the same period last year.

The firm's revenue for the March quarter of 2010-11 was Rs 947 crore as against Rs 679 crore for the same quarter last year.