Uflex Registers 8% Bottom Line Growth (YOY) During First Quarter of FY 2017-2018
India’s largest multinational flexible packaging materials and solution company, Uflex has achieved an 8% bottom line growth (YOY) during the quarter ended 30 June 2017. Figuratively, the consolidated net profit stands at Rs930m as compared to Rs860m during the first quarter of FY 2016-2017.
At the operating level, consolidated EBITDA rose by 4% to stand at Rs2.36bn as against Rs2.28bn during the same period in the previous fiscal. Consolidated total revenue for the first quarter of the current financial year is Rs16.24bn as against Rs15.16bn in the same quarter last financial year thereby registering a 7% topline growth (YOY). The total sales volume also grew by 5% as compared to the first quarter of FY 2016-2017.
Innovation to create value added differentiation is the cornerstone of Uflex’s business strategy and the company keeps developing and launching newer films and packaging products that contribute to the overall financial growth of the organisation.
In an official document released soon after declaring the Q1 earnings, Uflex chairman and managing director Ashok Chaturvedi said: "The Financial Year 2017-18 has started off on an assuring note. Our aseptic liquid packaging material manufacturing plant at Sanand, Gujarat, has been commissioned. This has completed our product offering bouquet in its entirety. You will be glad to know that with this your company now stands in a good stead to offer end-to-end flexible packaging solutions for solids, non-aerated liquids, semisolids, viscous fluids, gels, pastes, granular material, powders among others. This feat will further strengthen your company’s competitive edge in the flexible packaging industry. On the innovation front, we launched several products in the quarter ended 30 June 2017 that continued to add value to the businesses of our esteemed clients globally.
"I always tell my team that the solution lies in the womb of the challenge itself and that every challenge should be seen as an opportunity to tangibly improve our products and services in the best interest of our clients. I am glad to let you know that this doctrine is deeply ingrained in the cultural fabric of Uflex that keeps the entire team aligned with the corporate vision of being a leading company and preferred supplier for providing flexible packaging solutions to customers across the world maximising value for all stakeholders."