Uflex has announced an over three-fold increase in its net profit to Rs 695 crore for the fiscal year ended March 31, 2011 on account of sturdy demand.

During the previous year, the company registered a net profit of Rs 190 crore.

Flexible packaging firm attributed its sturdy quarter income to hefty demand styles across the world and growing production capacitances across its plants based in Egypt, Mexico, Dubai and India.

For the fiscal year ended March 31, 2011, the company registered net revenue of Rs 3,410 crore as against Rs 2,314 crore during the same period of last year.

During the three month period, Uflex's net profit remained at Rs 181 crore as compared to Rs 48 crore during the corresponding period last year.

The firm's income for January-March quarter of 2010-11 stood at Rs 947 crore as compared to Rs 679 crore for the same quarter last year.