Uflex Q3 profit jumps 47.22 per cent to Rs 53 crore

Flexible packaging company Uflex Ltd on Tuesday reported a 47.22 per cent increase in net profit at Rs 53 crore for the third quarter that ended in December 2013, on account of global capacity expansion and increased uptake of packaging solutions.

The company had posted a consolidated profit of Rs 36 crore for the corresponding period of the previous fiscal year, it said in a statement.

Consolidated net sales were higher at Rs 1,474 crore during the quarter under review, as compared to Rs 1,295 crore in the same period a year ago.

"Our three pronged strategy of growth with innovation, proximity to customers with quick & prompt deliveries and focus on operational excellence is the key to our success story that also reflects in the company's top line growth," Uflex chairman and MD Ashok Chaturvedi said.

Global economic fundamentals and consumer sentiments are providing and have started showing positive movements in the bottomline of companies, he said.

"We are hopeful that it will show up better in the coming times as well.  We are quite confident that FY 2014-15 would
witness far better results," said Chaturvedi.
Shares of Uflex today  closed at Rs 73.35 apiece on the
BSE, up 0.14 per cent from its previous close.
Uflex has manufacturing base in India, Mexico, Dubai,
Egypt, Poland and Kentucky to cater global markets spanning
USA, Canada, South America, UK, Europe, Russia, CIS countries,
South Africa and other African countries, the Middle East and
the South Asian Countries. PTI KRH
RAH
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