Uflex posts 26% jump in PAT for Q4FY17
By Nikita Singh |
5/31/2017 6:22 PM Wednesday
Packaging major Uflex announced a powerful quarterly performance for FY17 on Wednesday, May 31, 2017. The company’s consolidated net profit soared 25.62 per cent to Rs 98.19 crore for the fourth quarter on a yearly basis.
In an exclusive interview with Dalal Street Investment Journal, the company’s Group President (Corp. F&A), R. K. Jain said, “The company has reported a 26 per cent rise in its PAT on a quarterly basis. We saw volume growth of 14 per cent and a 10 per cent increment in the value. Our consistent effort to develop new technology, innovate, and enhance product size and productivity adds to our efficiency.”
Jain further added, “The market trend has also been upbeat in the fourth quarter of the fiscal year 2017 and with new projects in company’s bag, Uflex is expecting an extension of profits even in FY18.”
The company will be expanding its product line in FY18 with the introduction of liquid packaging products. “We will definitely be adding more value to our existing product lines too,” informed Jain.
Further, on the implementation of GST, Jain beamed with positivity, and said, “GST will be favourable for the packaging industry and even for the markets at large as the economy will bear its fruit in the long term.”
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