Net sales during the quarter, however, remained flat at Rs 1,949.87 crore. Total expenditure was at Rs 1,576.43 crore (down 7.6% YoY) while the interest costs were at Rs 53.95 crore (down 6.9% YoY) in Q1 June 2020.

Profit before tax (PBT) in Q1 FY21 stood at Rs 262.67 crore, a 123.2% spurt over Rs 117.68 crore in Q1 FY20.

Current tax expense surged to Rs 57.21 crore in the first quarter as against Rs 22.16 crore in the same period last year.

Uflex manufactures flexible and laminated packaging. The company's products are used in packaging for cosmetics, pharmaceuticals and toiletries.