India’s largest global flexible packaging solution company Uflex has reported a 13% jump
in the consolidated net profit for the quarter ended 30 June 2016 as compared to the same quarter in the previous fiscal. The net profit for Q1 FY 2016-17 stood at Rs 86.2 crore as
opposed to Rs 76.2 crore in the last financial year.
Consolidated EBITDA for Q1 FY 2016-17 has been Rs 228.4 crore as compared to Rs 219.3 crore recorded in Q1 FY 2015-16, thereby clocking in a growth of 4%. Consolidated net revenue stood at Rs 1538.70 crore declining by 4% as compared to Rs 1605.00 crore recorded in Q1 FY 2015-16. 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 Q1 FY 2016-17, Ashok Chaturvedi, chairman and managing director of Uflex said, “The new financial year has commenced on an exhilarating note with product innovation, process improvements, technological collaborations and partnerships fortifying positive change. I am pleased to inform that we have inaugurated a fully automatic robotic laser engraving line at our Noida plant in technical collaboration with Think Lab, Japan. This has reduced the cumbersome process of manufacturing rotogravure printing cylinders to a single operator job while increasing both precision of job and efficiency.”
Further upholding its commitment towards nature, Uflex has commenced interventions towards Natural Resource Conservation and Optimization of Ecosystem in two villages of Gautam Buddha Nagar district. This entails recharging the ground water-table through rainwater harvesting measures and improving the ecological quotient and greenery through focussed plantation drives. These programmatic interventions are being carried out using the participatory rural appraisal mechanism. Various social and environmental initiatives undertaken by the company ensure continued business sustainability.
