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Packaging firm Uflex Ltd has posted a 58 per cent increase in its consolidated net profit before at Rs 95.57 crore for the first quarter ended June 30, 2011, as against Rs 60.50 crore in the corresponding period a year ago. Net sales of the company increased to Rs 1,124.7 crore during the quarter from Rs 684.8 crore in the corresponding quarter last fiscal. “The higher revenue growth has come on the back of traction in demand and corresponding manufacturing capacities across our facilities in Egypt, Mexico, Dubai and India,” Mr Ashok Chaturvedi, Chairman and Managing Director, said. Uflex is currently undertaking expansion plans across its present manufacturing locations and expanding in to new geographies with facilities coming up in Poland and Kentucky, US. Uflex shares ended Friday at Rs 200.75, gaining 4.52 per cent, on the BSE.
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