Packaging company Uflex today reported a 17.05 per cent rise in consolidated net profit at Rs 80.23 crore for the March quarter.
The company had posted a net profit of Rs 68.54 crore during the January-March quarter a year ago, Uflex said in a statement.
However, its consolidated net sales was down marginally to Rs 1,440.56 crore during the quarter under review as against Rs 1,444.68 crore in corresponding period of the preceding fiscal.
For the full 2015-16 fiscal, Uflex's consolidated net profit was up by 22.79 per cent to Rs 312.83 crore as against Rs 254.75 crore in the fiscal previous to it.
However, its net sales were down 1.14 per cent to Rs 5,963.82 crore in 2015-16 as against Rs 6,033.11 crore in 2014-15.
Commenting on the outlook, Uflex CMD Ashok Chaturvedi said: "FY 2016-17 is a year of new possibilities. It will witness the commissioning of our aseptic packaging plant at Sanand, Gujarat for packing liquid products.
"With this, we will complete our product bouquet which currently entails offering end-to- end flexible packaging solutions for solids, semi-solids, pastes, gels, viscous fluids, powders,granular material etc."
In a separate filing Uflex informed that its board in a meeting held today has recommended a dividend of 32 per cent, which is Rs 3.20 per share for the year 2015-2016.
Shares of Uflex today closed 0.95 per cent up at Rs 186.40 at BSE.