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Uflex Q2 outcomes: Net revenue jumps two-fold to Rs 222 cr

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New Delhi: Packaging supplies agency Uflex Ltd on Wednesday reported an over two-fold bounce in consolidated web revenue at Rs 222 crore for the September quarter, helped by volumes development. The firm had posted a web revenue of Rs 94.26 crore in the course of the July-September interval a 12 months in the past, Uflex stated in a regulatory submitting.

Total earnings was at Rs 2,234.46 crore, up 19.15 per cent from Rs 1,875.32 crore within the corresponding interval of the earlier fiscal.

Total bills rose 10.43 per cent to Rs 1,934.85 crore in comparison with Rs 1,752.01 crore earlier.

During the quarter, Uflex witnessed a “surge in demand” for a number of traces of companies whereas additionally including newer shoppers, the corporate stated in a post-earnings assertion.

“This is clear by the rise in complete gross sales quantity by 18.eight per cent YoY to 1,116,45 MT in Q2 FY2020-21.

“Total manufacturing quantity for the quarter confirmed a rise of 25.7 per cent YoY to 1,184,70 MT, the Packaging Films production volume grew by 26.8 per cent YoY and Packaging production volume grew by 22.1 per cent YoY,” it stated.

Revenue from versatile packaging section was up 19.13 per cent to Rs 2,162.67 crore as in opposition to Rs 1,815.29 crore.

Revenue from the engineering section was at Rs 81.67 crore, up 19.36 crore from Rs 68.42 crore earlier.

Uflex Group CFO Rajesh Bhatia stated, “The surge in production and sales volume of Packaging Films is on account of additional output from Russia and Poland plants. The surge in packaging production and sales volumes by 22 per cent and 23.3 per cent YoY respectively is an outstanding achievement.”

Shares of Uflex Ltd settled at Rs 307.65 on BSE, down 0.93 per cent from the earlier shut.

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