Uflex plummets 7% after reporting net loss of Rs 85 crore in December quarter


Uflex, one of India's leading flexible packaging companies, share price declined 7 percent in the morning session on February 15, a day after the company reported a loss in the December quarter of the financial year 2022-23.

The company reported a net loss of Rs 85 crore against a profit of Rs 313 crore in the same period a year ago.

At 12.13 pm, Uflex was trading at Rs 483.30 on the National Stock Exchange, down 5.52 percent from the previous day's close.

The primary reason for the loss was the devaluation of the Egyptian currency, which caused a loss of Rs 84 crore. During the third quarter, notional foreign exchange losses due to currency devaluation/fluctuations aggregated to Rs 236 crore.

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