Stocks

Varun Beverages shares jump over 11% on strong Sept quarter earnings

PTI New Delhi | Updated on November 05, 2019

Varun Beverages on Monday posted an 83.73 per cent increase in consolidated net profit. File Photo   -  BusinessLine

Shares of PepsiCo India’s bottling partner Varun Beverages on Tuesday zoomed over 11 per cent after the company posted an 83.73 per cent increase in consolidated net profit for the September quarter.

The scrip advanced 11.44 per cent to close the trade at ₹701.80 on the BSE. During the day, it rallied 15.44 per cent to ₹727 - its 52-week high. On the NSE, it climbed 10.47 per cent to settle at ₹698.20. In traded volume terms, 1.58 lakh shares were traded on the BSE and about 21 lakh shares changed hands on the NSE.

Varun Beverages on Monday posted an 83.73 per cent increase in consolidated net profit at ₹81.12 crore for the September quarter. The company had clocked a profit of ₹44.15 crore in the year-ago period. Revenue from operations during the quarter stood at ₹1,776.85 crore as against ₹1,204.47 crore in July-eptember 2018, Varun Beverages said in a regulatory filing.

The company follows January-December financial year. Varun Beverages has been associated with PepsiCo for over 27 years accounting for 80 per cent of the US firm’s beverage sales volume in India.

Published on November 05, 2019

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