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    Uflex shares jump 19% after profit doubles in Q4

    Synopsis

    The packaging materials company reported an over two-fold jump in consolidated net profit at Rs 264.95 crore for the fourth quarter ended March 2021.

    money--price riseGetty Images
    Total income rose 45.05 per cent to Rs 2,571.77 crore as against Rs 1,773 crore in the corresponding period of the previous fiscal.
    NEW DELHI: Shares of Uflex jumped as much as 19 per cent during early trade on Wednesday as the company reported more than double profit in the quarter ended on March 31, 2021.

    The packaging materials company reported an over two-fold jump in consolidated net profit at Rs 264.95 crore for the fourth quarter ended March 2021. The company had posted a net profit of Rs 100.90 crore during the January-March period a year ago.

    Shares of Uflex soared 19 per cent to Rs 570 on Wednesday. However, the counter was trading at Rs 552 at 10.10 am. BSE Sensex was trading 174.48 points, or 0.33 per cent, at 52,724.14 at the same time. The counter settled at Rs 477.45 on Tuesday.

    Total income rose 45.05 per cent to Rs 2,571.77 crore as against Rs 1,773 crore in the corresponding period of the previous fiscal. Total expenses stood at Rs 2,235.47 crore in Q4 FY 2020-21, up 35.32 per cent from Rs 1,651.94 crore earlier.

    For the full fiscal 2020-21, Uflex reported a two-fold rise in consolidated net profit at Rs 843.68 crore. It had posted a net profit of Rs 370.88 crore in the previous year. Revenue from operations was at Rs 8,914.86 crore in FY 2020-21, up by 19.96 per cent.

    In a separate filing, Uflex said its board has recommended a dividend of 25 per cent, that is Rs 2.50 per equity share, for the financial year ended March 31, 2021.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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