Uflex Q4 net up 43% to Rs 100.9 crore

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Packaging company Uflex Ltd has reported a 43.30 percent rise in consolidated net profit at Rs 100.90 crore for the fourth quarter ended March 31, 2020 helped by volume growth.

The company had posted a net profit of Rs 70.41 crore during the January-March quarter of the previous fiscal, Uflex said in a regulatory filing.

However, its total income was down 13.95 percent to Rs 1,773 crore during the quarter under review, as against Rs 2,060.60 crore in the corresponding period of the previous fiscal.

"Our EBIDTA margins for Q4 FY19-20 improved to 15.6 percent vs 12.6 percent for the same quarter last fiscal. Our production and sales volumes were up as compared to the sequential quarter, despite the COVID-19 challenge," Uflex Group President (Finance & Accounts) & CFO Rajesh Bhatia said.

Uflex's total expenses were at Rs 1,651.94 crore in the fourth quarter of 2019-20, down 15.32 percent as against Rs 1,950.88 crore.

"Total production volume for Q4 FY19-20 was 94,848 metric tonnes (MT), while total sales volume for the same period was 95,048 MT," the company said in a post earning statement.

For the fiscal year 2019-20, Uflex's net profit was up 17.66 percent to Rs 370.88 crore. It was Rs 315.21 crore in the previous year.

However, its total income in fiscal was Rs 7,431.62 crore, down 6.81 percent. It was Rs 7,974.80 crore in 2018-19.