Uflex closes Q2 of FY19-20 with 5% increase in EBITDA

Uflex, one of India’s largest multinational flexible packaging companies and a global player in polymer sciences, declared its earnings for the quarter ended 30 September 2019, and its consolidated EBITDA (Earnings before interest, tax, depreciation, and amortization) for Q2 FY 19-20 stood at Rs. 278.8 crores, showing an increase of 5.4% YoY basis while its consolidated net profit fell marginally by 1.8% YoY (year on year) to Rs. 94 crores. The total production volume during the quarter was 94218 metric tons as compared to 102442 metric tons during September 2018 quarter and total sales volume for the quarter was 93951 metric tons as compared to 101081 metric tons in September 2018 quarter. Lower production and sales volume are attributed to the closure of one BOPET line in Dubai as it is being shifted to Russia. The company reported consolidated net revenues of Rs. 1875.3 crores for the second quarter of fiscal 2019-20, registering a drop of 7.2% on YoY basis. Talking about the earnings for the company, Rajesh Bhatia, group chief financial officer at Uflex…

Choose your subscription to read more