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Uflex board approves Rs.1,800 crore investment

Posted on Aug 08 2014 | IANS

New Delhi, Aug 8 : Packaging firm Uflex will invest Rs.1,800 crore (USD 300 million) in the next three years on its future growth plans, the company said in a filing in the Bombay Stock Exchange (BSE).

The company board has approved the investment plan, it said.

The company posted standalone net profit of Rs.25.24 crore for the quarter ended June 30, 2014 compared to Rs.24.47 crore posted during the corresponding quarter in 2013-14 -- a rise of 3.14 percent.

The total income stood at Rs.825.84 crore in the quarter compared to Rs.781.56 crore during the corresponding period last fiscal.

The company's stocks were trading at Rs.134.10 or 0.41 percent higher in afternoon trade Friday.

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