Uflex Limited, India’s largest global flexible packaging solution company has posted a 13 per cent jump in the consolidated net profit for the April-June quarter, 2016 as opposed to the same quarter in the previous fiscal. The net profit for Q1 FY 2016-17 was recorded at Rs.86.2 cr as compared to Rs.76.2 cr in the last financial year.
Consolidated EBITDA for Q1 FY 2016-17 stood at Rs.228.4 cr compared with Rs.219.3 cr recorded in Q1 FY 2015-16, thus clocking in a growth of 4 per cent.
Consolidated net revenue was seen to be Rs.1,538.70 cr declining by 4 per cent as opposed to Rs.1,605.00 cr recorded in Q1 FY 2015-16. While there was a drop in net revenue triggered by lower sales price owing to dipping raw material costs, the volumes during the quarter have soared by 3 per cent.
In a formal newsletter released soon after announcing the earnings for Q1 FY 2016-17, Chairman and Managing Director, Uflex – Ashok Chaturvedi said that the new financial year had started on an eye-popping note with product innovation, process enhancements, technological collaborations and partnerships thereby fortifying positive metamorphism.
Chaturvedi added with a smiling facade that they had inaugurated the “fully automatic robotic laser engraving line” at their Noida facility in technical collaboration with Think Lab, Japan. He further continued that this had reduced the cumbersome process of producing rotogravure printing cylinders to a single operator job while amazingly increasing both precision of job and efficiency.
In June 2016, Uflex had a pretty successful showing at Drupa 2016. Chaturvedi stated that the response had been overwhelming with a good amount of interest by global clientele in the end-to-end flexible packaging solutions offered by the company. The chairman further added that at the event, they announced technological collaboration with Comiflex SRL Italy for producing geared and gearless CI Flexo Printing Machines at their engineering plant in India under a Technology Transfer Agreement with the latter.
Chaturvedi concluded that the quarters ahead held promising business prospects.
Meanwhile, upholding its commitment towards environment and nature, Uflex has started interventions towards conservation of natural resource conservation and ecosystem optimisation in two villages of Gautam Buddha Nagar District in UP. This entails recharging groundwater table via rainwater harvesting measures and bettering ecological quotient and greenery via focused plantation drives.
Meanwhile, Uflex share price was trading 5.65 per cent up on NSE today. The scrip opened at Rs.234 from a previous closing of Rs.234.35. To acquire details on the support and resistance levels of the stock, please pay a visit to Uflex share price history.
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