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Uflex Income for Q1 FY 2018-19 up by 17.5 pct

ANI  |  New Delhi [India] 

India's largest multinational flexible packaging materials and solution company has announced their earnings for quarter ending 30 June 2018.

The company has been maintaining a sustained growth curve and achieved the Consolidated Income for the quarter ended 30thJune 2018 of Rs. 1912 crores as against Rs. 1627 crore for the same period last year, thus registering a growth of 17.5%. The consolidated EBITDA for the quarter ended 30th June, 2018 has been higher at Rs. 255 crore as against Rs. 237 crore for the same period last year up by 7.9%, and as against Rs. 229 crore for the quarter Jan-March 2018, up 11.3%. The profit after tax for the quarter ended 30th June 2018 is also higher at Rs. 94 crore.

"Buoyed by the highest ever quarterly production & sales volumes, Uflex achieved Revenue growth of 17.5% in Q1 FY 18-19 over Q1 FY 17-18, thus registering highest ever Revenue in a quarter. During Q1 FY 18-19, overall production volumes grew by 11.6% and sales volumes grew by 14.9%. The subsequent quarters for FY 2018-19 are likely to witness incremental export sales volume from the recent customer acquisitions. Aseptic Packaging has increased its customer reach and is now supplying to about 20 customers. The trial runs are on-going successfully with some of the large customers," said Global CFO, Uflex Limited,

In an official document released soon after the Earnings were declared, Chairman and Managing Director, Uflex Limited, said, "Q1 of Financial Year 2018-19 has witnessed significant Production & Sales volume growth. The margin in packaging films have improved while the flexible packaging margins were impacted by the lag effect of about 17% increase in the during the quarter. The fast evolution of our technology, aided us to launch several products in the quarter ended 30 June 2018 that continue to meet the demands of the ever changing customer needs which also adds value to the businesses of our esteemed clients globally."

"As a matter of pride we have been able to contribute to Indian Space Research Organization's endeavour of development of Satellite Thermal Insulation film and becoming self-reliant in This is a major win for and a moment of truth for Made in All this has been accomplished through the unrelenting hard work by the metallizing team of without which it would not have been possible for us to accomplish this goal," added Chaturvedi.

You will also be glad to know that we have been certified by the Indian Banks' Association (IBA) as a security printer for MICR instruments for its member banks. Since we possess all required systems, technology and infrastructure, the Indian Bank's Association conferred this certification to us and has given us the opportunity for security MICR instruments which is a big honor and responsibility in itself. To become a leading company and for providing flexible to customers across the globe and to further maximize value for all stakeholders, I encourage my team to follow the mantra of excellence, which means to keep beating your own standards every day and to surpass your past records because if you don't have any record to beat, you can't excel. Let us start off on the right foot, keeping your eyes on the stars with feet on the ground and let success follow us in the financial year ahead..!!" concluded Mr.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, August 13 2018. 14:05 IST
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