UFlex jumps 9%, scales fresh 52-week high as Q1 profit grows two-fold

Due to the Covid-19 pandemic, flexible packaging has gained much more importance, the company said

Shares of UFlex surged 9.12 per cent to a fresh 52-week high of Rs 368.35 on the BSE on Wednesday after the packaging materials and solution company reported over two-fold jump in its consolidated net profit at Rs 196.54 crore for the first quarter of 2020-21 (Q1FY21).

The company had posted a net profit of Rs 90.91 crore during April-June quarter a year ago, UFlex said in a regulatory filing.

Its total income rose marginally by 0.78 per cent to Rs 1,997.54 crore during the quarter under review as against Rs 1,981.97 crore in the corresponding period of previous fiscal. UFlex's total