Uflex Q3 profit jumps 47.22 per cent to Rs 53 crore

NEW DELHI: Flexible packaging company Uflex Ltd today reported a 47.22 per cent increase in net profit at Rs 53 crore for the third quarter ended December 31 on account of global capacity expansion and increased uptake of packaging solutions.

The company had posted a consolidated profit of Rs 36 crore in the same period of previous fiscal, Uflex said in a statement.

Company's consolidated net sales increased to Rs 1,474 crore in the October-December quarter as against Rs 1,295 crore in the same period a year ago.

"Our three pronged strategy of growth with innovation, proximity to customers with quick & prompt deliveries and focus on operational excellence is the key to our success story that also reflects in the company's top line growth," said Uflex Chairman and MD Ashok Chaturvedi.

Global economic fundamentals and consumer sentiments are providing and have started showing positive movements in the bottomline of companies, he said.

"We are hopeful that it will show up better in the coming times as well. We are quite confident that FY 2014-15 would witness far better results," said Chaturvedi.

Shares of Uflex today closed at Rs 73.35 apiece on the BSE, up 0.14 per cent from its previous close.

Uflex has manufacturing base in India, Mexico, Dubai, Egypt, Poland and Kentucky to cater global markets spanning USA, Canada, South America, UK, Europe, Russia, CIS countries, South Africa and other African countries, the Middle East and the South Asian Countries.