Country’s largest multinational flexible packaging materials and solution firm Uflex limited posted around 17 per cent rise in consolidated net profit to over Rs90 crore for the quarter ended on September 30, 2016.
Commenting on Q2 results, Uflex Group President (Corp F&A) RK Jain said, “Our raw material prices are linked to crude oil prices. The downward pressure of raw material prices over the past few quarters has been retaining the selling prices of the goods on the downside. Therefore, you will see that while the volumes have grown, the total revenue has not shown growth during the period.”
The company also said that its EBITDA rose by 6 per cent and stood at Rs233.1 crore and the consolidated total revenue at Rs1559 crore in Q2 FY’17 is 2 per cent higher than the levels registered in the same period during last year.