Uflex’s consolidated net profit surges by 116.7% in Q1

Noida-based Uflex, one of the largest multinational flexible packaging companies in India and a global player in polymer sciences, has declared its earnings for the first quarter of FY2020-21. The company posted a stellar performance where the company’s Consolidated Net Profit surged by 116.7% YoY to Rs 196.5 crore for Q1FY 2020-21. Consolidated Total Revenue for the first quarter of fiscal 2020-21 stood at Rs 1997.5 crore, a marginal increase of 0.78% YoY. Speaking of the results, Rajesh Bhatia, group president – Finance and Accounts and chief financial officer, Uflex, said, “Q1 FY2020-21 has been a quarter of great progress for Uflex. With innovations seen in FlexiTubes, spout pouches and other product portfolio, we have been working relentlessly during these challenging times. The demand for pouching saw a huge increase led by personal hygiene category. This was reflected in our quarterly performance via higher sales volumes, huge surge in profitability and much healthier EBITDA margins of 21.1%. Even amidst the lockdown, we were able to complete the construction of our new facilities in Poland and…

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