Uflex Q1 net up 11.6% at Rs 86.16 cr

Packaging company Uflex today reported an increase of 11.62 per cent in consolidated net profit to Rs 86.16 crore for the first quarter ended June 30.
The company had posted a net profit of Rs 77.19 crore for April-June quarter in the year-ago period, Uflex said in a BSE filing.
However, consolidated net sales were down 4.51 per cent to Rs 1,480.42 crore during the quarter under review as against Rs 1,550.43 crore of the corresponding period of the previous fiscal.
"While there has been a drop in Net Revenue caused by lower sales price owing to sliding raw material costs, the volumes during the quarter have grown by 3 per cent," the company said.

During the quarter, total expenses was down 5.03 per cent to Rs 1,364.69 crore as against Rs 1,437.06 crore.
Uflex CMD Ashok Chaturvedi said: "The new financial year has commenced on an exhilarating note with Product Innovation, Process Improvements, Technological Collaborations and Partnerships fortifying positive change."
Shares of Uflex today settled at Rs 236.60 on BSE, up 3.75 per cent from the previous close.