Uflex Q2 loss at Rs 64.58 cr; revenue from operations up 14.6% to Rs 3,781.03 cr

New Delhi: Packaging materials and solutions company Uflex Ltd has reported a consolidated net loss of Rs 64.58 crore for the second quarter ended September 30, 2024.

The company had posted a net profit of Rs 63.31 crore during the July-September quarter a year ago, Uflex said in a late-night regulatory filing on Wednesday.

However, its revenue from operations was up 14.66 per cent to Rs 3,781.03 crore in the September quarter. It was at Rs 3,297.45 crore in the corresponding period of the previous fiscal.

Uflex’s total expenses increased 15.60 per cent in the September quarter of this financial year to Rs 3,791.57 crore.

The total income of Uflex was up 13.68 per cent to Rs 3,853.21 crore.

Its revenue from 'Flexible Packaging Activities' was up 13.71 per cent to Rs 3,752.57 crore in the September quarter of this financial year.

Uflex's revenue from engineering activities was up 53.59 per cent to Rs 130.60 crore in the June quarter.

During the quarter Uflex's sales volume was at 66,927 MTPA, the company said in its earning statement adding it maintained its growth momentum in volume terms.

"Packaging films (consolidated) sales volume rose by 14.6 per cent year-on-year, while packaging (flexible packaging, liquid packaging and holography) sales volume witnessed a marginal decline of 0.7 per cent. continuing the momentum, liquid packaging achieved capacity utilisation of 93.2 per cent in Q2 FY25 vs 82.9 per cent in Q2 FY 24, resulting in sales volume growth of 17.6 per cent year-on-year," it said.

"Looking ahead, we are expanding capacity at the Sanand facility, adding 5 billion cartons post-debottlenecking and commissioning 216,000 MTPA virgin PET chips plant at Egypt and 18,000 MTPA CPP line, which will drive the revenue, profitability, growth in FY25 and beyond," Group president and CFO Rajesh Bhatia said.

UFlex is India's largest multinational flexible packaging materials and Solution 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.

Shares of Uflex Ltd on Thursday were trading at Rs 566.30 per scrip on BSE, down 3.16 per cent.