Varun Beverages logs 29.98% y-o-y growth in Q3 at Rs 514.05 crore

6 Nov 2023 , 02:54 PM

Varun Beverages announced a total net profit of Rs 514.05 crore for the September quarter of FY24, up 29.98% from Rs 395.48 crore the previous year, on November 6.

Total revenue for the third quarter was Rs 3,937.75 crore, a 21.22% increase from Rs 3,248.3 crore in the same quarter of the previous year, driven by double-digit growth in both the Indian and international markets. Net realisation grew by 5.6% to Rs. 176.3 per case, owing mostly to higher realisation per case in overseas markets.

Varun Beverages, a major participant in the beverage business and one of PepsiCo’s largest franchises outside of the United States, operates on a January-December fiscal year.

EBITDA for the quarter was Rs 883 crore, registering a 48% increase. The EBITDA margin was 22.40%, up from 18.40% in the previous year. Higher gross margins and operational efficiency fueled the growth.

The board of directors also approved the formation of a subsidiary firm in Mozambique to handle beverage distribution. It will assist the corporation in expanding its activities in Mozambique.

At around 2.50 PM, Varun Beverages was trading 0.93% lower at Rs 943, against the previous close of Rs 951.85 on NSE.

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