India’s largest global flexible packaging company Uflex has registered 38% growth in its consolidated net profit for Q3 FY 2015-16 when compared to the same period during the last financial year. The net profit stands at Rs. 78.7 crore as compared to Rs. 57.1 crore during the third quarter of the previous financial year.
The consolidated total revenue for Q3 FY 2015-16 has been tad lower at Rs.1,511 crore as compared to Rs. 1,533.8 crore during the corresponding period of the previous financial year due to fall in selling prices of packaging films mainly owing to the drop in the prices of raw materials. The consolidated total revenue for the first nine months of FY 2015-16 is 4,651 crore, while the consolidated net profit for the same period stands at Rs. 232.6 crore, up from Rs.186.2 crore when compared to the same period during the last financial year, thus registering a bottom line growth of 25%.
Upon declaration of Q3 results, Ashok Chaturvedi, chairman and managing director of Uflex Group said, “I am glad that the innovation quotient of the organization has been continuously rising – a fact that is evident from the consistent growth in our bottom line. We always endeavour to offer flexible packaging solutions that add value to the business of our clients. This is a collaborative process, wherein our product team proactively interfaces with our clients to design unique and optimized packaging solutions exactly matching their requirements in terms of barrier properties, functionalities, aesthetics and anti-counterfeiting properties among other parameters.”
The work towards commissioning the first of its kind aseptic packaging plant at Sanand, Gujarat is underway in full swing. With this plant for packing liquid products becoming commercially operational in early 2017, Uflex will complete its entire product bouquet of flexible packaging solutions which currently covers solids, semi-solids, viscous fluids, pastes, gels, powders, granular material.
Uflex is all geared to showcase its technological prowess during the ‘Make in India Week’ that will be inaugurated by prime minister Narendra Modi on 13 February 2016 at MMRDA Grounds, Bandra Kurla Complex, in Mumbai. The Gujarat Project will be one of the prominent highlights of Uflex which will be present at Stand 22.21.
Packaging South Asia is the cooperating media partner for drupa 2016 which is scheduled to be held from 31 May to 10 June at Dusseldorf, Germany.