Varun Beverages clocks substantial growth in Q1CY22; PAT up by 98.2% yoy

28 Apr 2022 , 03:23 PM

Varun Beverages Limited, a key player in the beverage industry, announced its financial results for the first quarter ended March 31, 2022.

Revenue from operations jumped 26.2% yoy to Rs2,827.47 crore driven by robust volume growth and improved net realizations.

EBITDA grew by 39.1% yoy to Rs531 crore in Q1CY22 as against Rs381.62 crore in Q1CY21.

PAT jumped 98.2% yoy to Rs271.09 crore in Q1CY22 as compared to Rs136.76 crore in Q1CY21.

PAT growth was on the back of improved margins, reduction in finance cost, and higher profitability from our international operations.

Gross EBITDA margins in Q1CY22 reduced by 427 bps to 51.5% primarily due to an increase in preform/pet chips prices by ~30% over Q1CY21.

“We have started the year on a strong note, delivering notable growth across all parameters. Robust demand in both domestic and international markets, also supported by the early onset of summer in India, translated to healthy volumes during the quarter. This along with improved net realizations resulted in solid net revenue growth of 26.2% in Q1CY22,” commented Mr. Ravi Jaipuria, Chairman, Varun Beverages Limited.

At around 3.20 PM, Varun Beverages was trading at Rs1,063.70, up by Rs26.65 or 2.57% from its previous closing of Rs1,037.05 on the BSE. So far in the day, it touched a high and low of Rs1,101 and Rs1,045 respectively.