{"id":142359,"date":"2023-02-14T06:14:00","date_gmt":"2023-02-14T11:14:00","guid":{"rendered":"https:\/\/44.250.171.167\/?p=142359"},"modified":"2023-02-21T06:20:18","modified_gmt":"2023-02-21T11:20:18","slug":"uflex-recorded-a-127-percent-drop-in-net-profit-in-q3fy23","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/uflex-recorded-a-127-percent-drop-in-net-profit-in-q3fy23\/","title":{"rendered":"UFlex recorded a 127 percent drop in net profit in Q3FY23"},"content":{"rendered":"\n<p>Uflex&#8217;s total income shows marginal growth of 0.6% YoY to INR 3,483 crore. For the nine months ended December 31, 2022, total income grew 23% YoY to INR 11,391 crore. The company&#8217;s earnings before interest, depreciation &amp; amortization, tax and foreign exchange gain\/loss are at INR 429 crore as compared to INR 599 crore in the corresponding quarter of FY22.<\/p>\n\n\n\n<p><br>UFlex recorded a loss INR 85 crore. During the third quarter, national foreign exchange losses due to currency devaluation\/fluctuations aggregated to INR 236 crore, which is unprecedented. Packaging sales volumes grew 34.3% YoY. Continued progress on its sustainability vision with a presentation to brand owners and industry leaders at an Alliance to End Plastic Waste (AEPW) board meeting at the New York Stock Exchange; showcases expertise in building circularity and strengthening the waste-to-wealth value chain on a global platform.<\/p>\n\n\n\n<p><br>Ashok Chaturvedi, Chairman and Managing Director UFlex Ltd., stated, &#8220;It has been a challenging quarter for the packaging industry globally, with rising energy costs in the European Union, rising interest rates, and weakened growth momentum in the United States and other developed economies. UFlex is confident of navigating these current macroeconomic conditions and will continue to deliver long term stakeholder value. Our distributed global manufacturing strategy, execution capabilities, investments in research and development, and product innovation will enable us to deliver year-on-year profitable growth.<\/p>\n\n\n\n<p>We are making great progress on our sustainability journey and are in the process of commissioning PostConsumer Recyclate (PCR) and Multi-Layered Plastic (MLP) recycling facilities in Mexico and Poland. UFlex has recycled more than half a million tons of Multi-Layer mixed Plastic Waste (MLP) so far. In Q3, 2022, it was a great honor for UFlex to be invited to make a presentation on our recycling experience to brand owners and industry leaders at an Alliance to End Plastic Waste board meeting at the New York Stock Exchange. UFlex has offered to lend its technical expertise in recycling Multi-Layer mixed Plastic Waste to civic bodies, regulators, policymakers, and brand owners globally&#8221;.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"985\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/0a1ad154-6a7a-4a4e-854b-621714751c1a-1024x985.png\" alt=\"\" class=\"wp-image-142360\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/0a1ad154-6a7a-4a4e-854b-621714751c1a-1024x985.png 1024w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/0a1ad154-6a7a-4a4e-854b-621714751c1a-300x289.png 300w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/0a1ad154-6a7a-4a4e-854b-621714751c1a-768x739.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/0a1ad154-6a7a-4a4e-854b-621714751c1a-1536x1478.png 1536w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/0a1ad154-6a7a-4a4e-854b-621714751c1a-2048x1971.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Uflex&#8217;s total income shows marginal growth of 0.6% YoY to INR 3,483 crore. For the nine months ended December 31, 2022, total income grew 23% YoY to INR 11,391 crore. The company&#8217;s earnings before interest, depreciation &amp; amortization, tax and foreign exchange gain\/loss are at INR 429 crore as compared to INR 599 crore in [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":142360,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,392,5753],"tags":[11623,8196],"class_list":["post-142359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-earnings","category-industrials","tag-containers-packaging","tag-packaging"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/0a1ad154-6a7a-4a4e-854b-621714751c1a.png","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":142364,"url":"https:\/\/alphastreet.com\/india\/uflex-packaging-sales-volume-grew-by-34-percent-in-q3fy23\/","url_meta":{"origin":142359,"position":0},"title":"UFlex packaging sales volume grew by 34 percent in Q3FY23","author":"Chirag Gupta","date":"February 14, 2023","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":139920,"url":"https:\/\/alphastreet.com\/india\/3i-infotech-ltd-nse-birlasoftq3-fy23-results-outtotal-income-rises-9-yoy\/","url_meta":{"origin":142359,"position":1},"title":"3i Infotech Ltd.(NSE:3IINFOLTD )|Q3 FY23 Results Out|Total Income rises 9% yoy","author":"Divyansh_Kasana","date":"February 2, 2023","format":false,"excerpt":"3i Infotech Limited (NSE: 3IINFOLTD) is an Indian multinational information technology company that provides software services and solutions to businesses in areas such as finance and accounting, risk management, and insurance. The company was established in 1993 and is headquartered in Mumbai, India. 3i Infotech offers a range of services\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/d33738f9-4cfe-47a9-b34f-cc119606b5e8-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/d33738f9-4cfe-47a9-b34f-cc119606b5e8-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/d33738f9-4cfe-47a9-b34f-cc119606b5e8-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/d33738f9-4cfe-47a9-b34f-cc119606b5e8-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/d33738f9-4cfe-47a9-b34f-cc119606b5e8-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/d33738f9-4cfe-47a9-b34f-cc119606b5e8-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":141997,"url":"https:\/\/alphastreet.com\/india\/caplin-point-laboratories-ltd-nse-caplipoint-q3fy23-results-out-total-income-rise-15-yoy\/","url_meta":{"origin":142359,"position":2},"title":"Caplin Point Laboratories Ltd. (NSE: CAPLIPOINT): Q3FY23 Results Out; Total Income rise 15% YoY","author":"Divyansh_Kasana","date":"February 16, 2023","format":false,"excerpt":"Caplin Point Laboratories Ltd. (NSE: CAPLIPOINT) is a pharmaceutical company based in India. It is engaged in the development, manufacture, and marketing of a wide range of generic formulations and active pharmaceutical ingredients (APIs) across various therapeutic segments. The company has a global presence and exports its products to over\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":141344,"url":"https:\/\/alphastreet.com\/india\/yes-banks-profit-drops-in-third-quarter-to-inr-52-crores\/","url_meta":{"origin":142359,"position":3},"title":"Yes bank&#8217;s profit drops in third quarter to INR 52 crores","author":"Chirag Gupta","date":"February 13, 2023","format":false,"excerpt":"Private sector lender YES Bank today reported 80.66% on-year drop in its standalone December quarter net profit at INR 51.52 crore due to ageing related provisions. Its net interest income improved 11.7% YoY at INR 1,971 crore in Q3. Its net interest margin (NIM) in Q3 stood at 2.5% up\u2026","rel":"","context":"In &quot;Analysis&quot;","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":143082,"url":"https:\/\/alphastreet.com\/india\/earnings-kalpataru-power-transmission-ltd-nsekalpatpowr-q3fy23-results-out-total-income-rise-2-yoy\/","url_meta":{"origin":142359,"position":4},"title":"Earnings | Kalpataru Power Transmission Ltd. (NSE:KALPATPOWR): Q3FY23 Results Out; Total Income rise 2% YoY","author":"Divyansh_Kasana","date":"March 1, 2023","format":false,"excerpt":"Kalpataru Power Transmission Ltd. (NSE:KALPATPOWR) is an Indian engineering, procurement, and construction (EPC) company that specializes in power transmission and distribution, oil and gas pipelines, railways, and infrastructure projects. The company was founded in 1981 and is headquartered in Mumbai, India. KPTL operates in more than 50 countries globally, with\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":143102,"url":"https:\/\/alphastreet.com\/india\/earnings-easemytrip-ltd-nseeasemytrip-q3fy23-results-out-total-income-rise-55-yoy\/","url_meta":{"origin":142359,"position":5},"title":"Earnings | EaseMyTrip Ltd (NSE:EASEMYTRIP): Q3FY23 Results Out; Total Income rise 55% YoY","author":"Divyansh_Kasana","date":"March 1, 2023","format":false,"excerpt":"EaseMyTrip Ltd (NSE:EASEMYTRIP) is an Indian online travel company that provides a range of travel-related services including flight and hotel bookings, tour packages, and bus tickets. It was founded in 2008 and is headquartered in Delhi. The company operates through its website and mobile app and has a strong presence\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/142359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=142359"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/142359\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/142360"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=142359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=142359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=142359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}