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The country’s largest flexible packaging materials and solution company, Uflex Ltd, has posted a net profit of ₹94.36 crore for the June quarter, ending nearly flat compared with the same period last year.
The company’s total income grew 11.3 per cent to ₹1,912.32 crore for the period. “Buoyed by the highest-ever quarterly production and sales volumes, Uflex’s overall production volumes grew 11.6 per cent and sales volumes grew 14.9 per cent,” the company’s CFO, Rajesh Bhatia said.
Subsequent quarters are likely to witness increased export sales volume from recent customer deals, said a company statement.
“The margin in packaging films business have improved while the flexible packaging business margins were impacted by the lag effect of about 17 per cent increase in the crude oil prices during the quarter,” said Uflex’s Chairman and Managing Director, Ashok Chaturvedi.
The statement said Uflex had been able to contribute to ISRO’s endeavour to develop satellite thermal radiation insulation film and becoming self-reliant in space technology applications. The company has also been certified by the Indian Banks’ Association (IBA) as a security printer for printing MICR instruments.
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