Uflex Q1 Loss Narrows, Revenue Rises 12% to Rs 3,654 Cr

New Delhi, Aug 12 (PTI) Packaging materials and solution company Uflex Ltd on Monday said its consolidated net loss narrowed to Rs 98.43 crore in the first quarter ended June 2024.

The company had posted a net loss of Rs 270.95 crore during the April-June quarter a year ago, according to a regulatory filing from Uflex.

Its revenue from operation was up 12.13 per cent to Rs 3,653.75 crore in the June quarter. It was at Rs 3,258.26 crore in the corresponding period of the previous fiscal.

Uflex's total expenses increased 9.41 per cent in the June quarter to Rs 3,577.45 crore.

Its revenue from 'Flexible Packaging Activities' was up 11.82 per cent to Rs 3,572.11 crore in the June quarter.

Uflex's revenue from engineering activities was up 40.41 per cent to Rs 115.13 crore in the June quarter.

The total income rose by 12.33 per cent to Rs 3,682.52 crore.

Group president and CFO Rajesh Bhatia said: "We had a good first quarter, and are on track for a strong recovery in the global packaging films business both in volumes and margins."

"The aseptic packaging business recorded the highest-ever quarterly production and sales volumes and with the debottlenecking getting completed later in the year, we will witness strong volume growth from Q4 FY25 onward," he added.

UFlex is India's largest multinational flexible packaging materials and solutions company and a leading global player in polymer sciences.

Headquartered in Noida, UFlex has advanced manufacturing facilities in India, UAE, Mexico, Egypt, USA, Poland, Russia, Nigeria, and Hungary.

Share of Uflex Ltd on Monday settled at Rs 600.75 per scrip on BSE, up 1.20 per cent.