Uflex jumps 4% on strong Q3 results

NEW DELHI: Shares of Uflex jumped over 4 per cent in Thursday’s trade after the packaging company reported a 56.07 per cent jump in consolidated net profit at Rs 84.81 crore for the December quarter.

The company had posted a net profit of Rs 54.34 crore during the October-December quarter a year ago.

Total income for the quarter fell 9.07 per cent to Rs 1,801.33 crore compared with Rs 1,981.09 crore in the same quarter last year.

Global CFO Rajesh Bhatia said, "Overall, operating Ebitda margin of 15 per cent was achieved for the quarter driven by higher margins in packaging films business and higher volumes in packaging business."

He added, "The production, sales volume and net revenue in Q3 were lower marginally due to closure of one BOPET line in Dubai which is being shifted to Russia, but the operating Ebitda was still up 19 per cent YoY.”

Total production volume during the quarter was 93,161 metric tonnes (MT) compared with 96,876 MT during the December 2018 quarter, while total sales volume for the quarter was 91,842 MT as against 94,229 MT in December 2018 quarter, Uflex said in a post earning statement.

Total expenses fell 11.77 per cent to Rs 1,682.52 crore as against Rs 1,907.14 crore a year ago.

The shares of the company closed 0.75 per cent higher at Rs 228.25 on BSE.