UFlex packaging sales volume grew by 34 percent in Q3FY23

UFlex Ltd, India’s largest multinational flexible packaging and solutions company, announced its consolidated financial results for the third quarter ended December 31, 2022. The total Income of the Company grew 0.6% YoY to INR 3496 crore in Q3, FY23.

The Company’s Earnings before interest, depreciation & amortization, tax and foreign exchange gain/loss are at INR 429 crore as compared to INR 599 crore in the corresponding quarter of FY22. Loss after Tax during the quarter was INR 85 crore which was largely due to a loss of INR 84 crore on account of currency devaluation by Egypt. In Q3, FY22, UFlex recorded a Profit (PAT) of INR 314 crore. During the third quarter, notional foreign exchange losses due to currency devaluation/fluctuations aggregated to INR 236 crore, which is unprecedented. For the nine months ended December 31, 2022, the Company’s Earnings before interest, depreciation & amortization, tax and foreign exchange gain/loss were INR 1646 crore as against INR 1517 crore in the nine month period ended December 31, 2021.

In Q3, 2022, the total sales volumes in packaging grew 34.3% YoY and the production volumes grew 31 %
YoY