Uflex Q4 net down 27% to Rs 71 cr
Packaging company Uflex has reported a decline of 27.55 percent in consolidated net profit at Rs 71.13 crore for the fourth quarter ended March 2018 due to increased depreciation cost.
May 28, 2018 / 08:56 PM IST
We are in the last phase of the September quarter earnings season, and the results announced by the BSE 500 companies so far have shown signs of a sharp recovery, as compared to the June quarter, when the economic activity in the country was compromised due to lockdown in various regions. From the BSE 500 list, 216 companies have announced their September quarter results so far. We excluded banking and financial companies. Along with the index stocks we also analyse each sector quarterly earnings. (Data Source: ACE Equity)
Packaging company Uflex has reported a decline of 27.55 percent in consolidated net profit at Rs 71.13 crore for the fourth quarter ended March 2018 due to increased depreciation cost. The company had posted a net profit of Rs 98.19 crore during the January-March quarter a year ago, Uflex said in a BSE filing.
However, its total income was up 5.88 percent to Rs 1,814.73 crore during the quarter under review as against Rs 1,713.89 crore in the corresponding quarter of the previous fiscal.
"This is primarily due to increased depreciation cost on account of commissioning of Aseptic Packaging Plant and higher tax outgo," the company said in a statement.
Total expenses were up by 6.48 percent to Rs 1,730.15 crore as against Rs 1,624.72 crore.
For the entire 2017-18, Uflex's net profit was down 10.89 percent to Rs 310.48 crore, compared to Rs 348.46 crore in 2016-17.
Its total income stood at Rs 6,808.53 crore as against Rs 6,525.29 crore in 2016-17, up 4.34 percent.
Meanwhile, the company in a statement, also informed that for the financial year 2017-18, its board has recommended a dividend of 20 percent.
Shares of Uflex today settled 4.97 percent higher at Rs 286.45 apiece on the BSE.