New Delhi, May 30 (PTI) Packaging company Uflex has reported a 25.62 per cent increase in consolidated net profit at Rs 98.19 crore for the fourth quarter ended March 31, 2017.
The company had posted a net profit of Rs 78.16 crore during the January-March quarter a year ago, Uflex said in a BSE filing.
Its total income was up 11 per cent to Rs 1,709.77 crore during the quarter under review as against Rs 1,540.33 crore in the corresponding quarter of 2015-16.
Uflex total expenses were up 10.83 per cent to Rs 1,575.54 crore as against Rs 1,421.51crore of fourth quarter of FY16.
For the entire 2016-17 fiscal, Uflex's consolidated net profit stood at Rs 348.46 crore, up 11.03 per cent, from Rs 313.84 crore in the previous financial year.
Its total revenue for the fiscal stood at Rs 6,504.79 crore, up 2.18 per cent, as compared to Rs 6,365.52 crore in the previous year.
Commenting on the results, Uflex Group President R K Jain said:"New variants of speciality and high barrier films coupled up with value added flexible packaging solutions that we launched throughout the year played a significant role in the overall sales volume and profit growth."
The board of the company has recommended a dividend of 35 per cent for FY17 subject to approval by the shareholders of the company.
Shares of Uflex ended 1.15 per cent down at Rs 335.70 on BSE.