UFlex Closes Q3 of FY19-20 with 57% Higher PAT YoY

 
printing cylinder

February 13, 2020, Noida: UFlex Ltd., India’s largest multinational Flexible Packaging Company and a global player in polymer sciences, today declared its earnings for the quarter ended December 31, 2019. Consolidated EBITDA for Q3 FY19-20 stood at INR 276.4cr, showing a jump of 21.4% on a YoY basis while its consolidated net profit was up 56.7% YoY at INR 84.6 cr.

The Total Production Volume during the quarter was 93161 metric tonnes (MT) as compared to 96876 MT during the December 2018 quarter, while Total Sales Volume for the quarter was 91842 MT vis-à-vis 94229 MT in the December 2018 quarter. The company reported consolidated net revenues of INR 1801cr for the third quarter of fiscal 2019-20, as compared to INR 1981cr in same period last year.

Talking about the earnings for the company, Rajesh Bhatia, Global CFO, UFlex Ltd. said, “Q3 FY2019-20 was extremely exciting for us, from being ranked at 188 among India’s Fortune 500 to India Ratings upgrading us to IND ‘A’ ratings”.  Adding, “Overall, operating EBITDA margins of 15% was achieved for the quarter driven by higher margins in Packaging Films Business and higher volumes in Packaging Business. In FY21, the company’s Greenfield plants in Russia, Nigeria, and Hungary will become operational and will add to the topline and profitability. The production, sales volume, and net revenue in Q3 were lower marginally due to the closure of one BOPET line in Dubai which is being shifted to Russia, but the Operating EBITDA was still up 19% YoY. It is heartening to see that the Packaging Business production volume in Q3 is up by 11% approx.”

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