Uflex Q4 Results: Profit falls to Rs 83 lakh, revenue down 14% to Rs 3,320 crore

Packaging material manufacturer Uflex reported a 99.7% decline in its consolidated net profit to INR 0.83 crore for Q4 2022, due to currency exchange losses, compared to last year. Revenue from operations was down 14% to INR 3,320.18 crore for the same period. For the financial year ended March 2023, Uflex’s net profit fell 56.27% to INR 480.76 crore. Uflex’s CFO Rajesh Bhatia explains that this was due to currency devaluation in Egypt and currency exchange loss on account of the US dollar strength against other currencies.