UFlex reported an over two-fold jump in consolidated net profit at Rs 264.95 crore for the fourth quarter (Q4) ended March 2021 as against a net profit of Rs 100.90 crore during the January-March period a year ago. The flexible packaging company’s total income increased by 45.05 per cent to Rs 2,571.77 crore in the Q4 of FY21 as against Rs 1,773 crore in the corresponding period of the previous financial year. The Noida, Uttar Pradesh-based company’s consolidated net profit zoomed by 127.5 per cent to Rs 843.68 crore in the year ended March 2021 (FY21) as against Rs 370.88 crore in FY20. UFlex’s net sales rose by 19.3 per cent to Rs 8,674.51 crore in FY21 over those of FY20.

With packaging taking the centrestage in the pandemic affected last year, UFlex rose above the challenges to post exemplary performance and achieved the highest-ever production and sales volumes, revenue and profitability in the quarter as well as in FY21, the company has said in a media release.

“Our business network has weathered the disruption whilst also demonstrating resilience to cope with the ever-changing demands of the sector. We commissioned three of our projects in FY21, a BOPET film line in Russia and Poland each; and a new BOPP film line in Egypt with 42,000 tpa capacity, thus gaining an even wider reach globally,” said UFlex Chairman and Managing Director Ashok Chaturvedi after announcing the company’s results.