UFlex has registered 89 per cent year-on-year growth in its net profit at Rs 159.9 crore for the Q3 of 2020-21. The country’s largest, multinational, flexible-packaging company and global player in polymer sciences, has reported 50.8 per cent jump in its consolidated EBITDA to Rs 416.7 crore. Consolidated revenue for the third quarter stood at Rs 2,111.1 crore, an increase of 17.2 per cent year on year. 

With packaging becoming a lifeline in the battle against COVID-19 pandemic, the company has successfully supported customers and consumers with packaging solutions in the past quarters. The company has witnessed a surge in demand for multiple lines of businesses while also adding newer clients. This is evident by the rise in total production volume by 19.1 per cent in the quarter under review at 1,10,918 tonnes, whereas total sales volume for the quarter clocked in at 1,11,513 tonnes, an increase of 21.4 per cent year on year. 

Speaking of the results, UFlex Group CFO Rajesh Bhatia said: “Our growth journey remains intact amidst all the uncertainties that prevailed with the pandemic. This is reflected through the continued exceptional performance we posted in this quarter.” He has further added: “The highlights of this quarter are commissioning of the brownfield BOPET film line in Poland with a capacity of 45,000 tonnes per annum. The trial run for our BOPP plant in Hungary and BOPET plant in Nigeria has already commenced, and both the plants are expected to be commissioned soon.”