Packaging company Uflex Ltd on Thursday reported a 56.07 per cent increase in consolidated net profit at Rs 84.81 crore for the third quarter ended December.
The company had posted a net profit of Rs 54.34 crore during October-December quarter a year ago, Uflex said in a BSE filing.
However, total income during the quarter under review fell 9.07 per cent to Rs 1,801.33 crore as against Rs 1,981.09 crore in the corresponding quarter of the previous fiscal.
Commenting on the results, Uflex Ltd Global CFO Rajesh Bhatia said, "Overall, operating EBITDA margin of 15 per cent was achieved for the quarter driven by higher margins in Packaging Films Business and higher volumes in Packaging Business."
He added, "The production, sales volume and net revenue in Q3 were lower marginally due to closure of one BOPET line in Dubai which is being shifted to Russia, but the operating EBITDA was still up 19 per cent YoY."
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