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Uflex Q2 net profit up 1.6% to Rs 96.10 cr

twitter-logoPTI | November 3, 2018 | Updated 20:42 IST

New Delhi, Nov 3 (PTI) Packaging company Uflex Ltd on Saturday reported an increase of 1.59 per cent in consolidated net profit at Rs 96.10 crore for the second quarter ended September 2018. The company had posted a net profit of Rs 94.59 crore during the July-September quarter a year ago, Uflex said in a BSE filing. However, its total income was up 25.99 per cent to Rs 2,020.79 crore during the quarter under review as against Rs 1,603.83 crore in the corresponding quarter of the previous fiscal. Commenting on the results, Uflex Group CFO Rajesh Bhatia said: "The overall sales volume grew by 10.4 per cent to 79,992 MT (million tonnes) for packaging films and 11.6 per cent to 21,089 MT for packaging in Q2FY 2018-19 on a year-on-year basis." According to the company, it has "achieved the highest ever quarterly total production volume of 102442 MT" and registered "10.6 per cent increase in overall sales volume". Revenue from Uflex flexible packaging activities was at Rs 1,938.43 crore, up 26.93 per cent, as against Rs 1,527.11 crore in July-August of FY 2017-18. While revenue from engineering activities was at 90.56 crore, up 7.38 per cent, as against Rs 84.33 crore. Uflex total expenses stood at Rs 1,905.40 crore as against Rs 1,495.63 crore, up 27.39 per cent. Meanwhile, Uflex in a separate filing informed the BSE that its board in a meeting held on Saturday approved reappointment of its chief promoter Ashok Chaturvedi as chairman and managing director for another five-year term with effect from February 1, 2019. However, Uflex also added that this would be "subject to approval of shareholders". PTI KRH MKJ

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