Varun Beverages Q3 earnings: Net profit rises 22%, board approves fund raising plan
Varun Beverages Q3 earnings: Net profit climbed to Rs 628.82 crore in Q3 of this fiscal against Rs 514 crore in the September 2023 quarter.
- Oct 22, 2024,
- Updated Oct 22, 2024 12:55 PM IST
Pepsico bottler Varun Beverages reported a 22% rise in net profit for the September 2024 quarter. Net profit climbed to Rs 628.82 crore in Q3 of this fiscal against Rs 514 crore in the September 2023 quarter. Revenue from operations in Q3 climbed 25.3% to Rs 4932 crore against Rs 3937.7 crore in the corresponding period of the previous fiscal.
EBITDA rose 30.5% in Q3 to Rs 1,151 crore from Rs 882.1 crore in the Q3 of previous fiscal.
In the current session, the stock rose 2.74% to Rs 594.05 on BSE. A total of 2.20 lakh shares of the firm changed hands, amounting to a turnover of Rs 12.72 crore. Market cap of the firm rose to Rs 1.90 lakh crore.
Varun Beverages is a beverage company. It operates franchisee of PepsiCo. The company produces and distributes a range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo.
EBITDA margin climbed 117 bps to 24.0% in Q3 CY2024, led by operational efficiencies. Finance costs rose 89.7% in Q3 primarily due to new production facilities, acquisition of BevCo as well as increased cost of borrowing.
Heavy rains throughout the quarter led to India volumes growing in mid-single digits i.e. 5.7% and international volumes grew by 7.9% organically.
Varun Beverages follows a calendar year of reporting (January to December).
The Board of Directors also approved the proposal for raising of funds by way of issuance of equity shares for an aggregate amount not exceeding Rs 7,500 crore through QIP subject to receipt of approval of equity shareholders of the company.
Pepsico bottler Varun Beverages reported a 22% rise in net profit for the September 2024 quarter. Net profit climbed to Rs 628.82 crore in Q3 of this fiscal against Rs 514 crore in the September 2023 quarter. Revenue from operations in Q3 climbed 25.3% to Rs 4932 crore against Rs 3937.7 crore in the corresponding period of the previous fiscal.
EBITDA rose 30.5% in Q3 to Rs 1,151 crore from Rs 882.1 crore in the Q3 of previous fiscal.
In the current session, the stock rose 2.74% to Rs 594.05 on BSE. A total of 2.20 lakh shares of the firm changed hands, amounting to a turnover of Rs 12.72 crore. Market cap of the firm rose to Rs 1.90 lakh crore.
Varun Beverages is a beverage company. It operates franchisee of PepsiCo. The company produces and distributes a range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo.
EBITDA margin climbed 117 bps to 24.0% in Q3 CY2024, led by operational efficiencies. Finance costs rose 89.7% in Q3 primarily due to new production facilities, acquisition of BevCo as well as increased cost of borrowing.
Heavy rains throughout the quarter led to India volumes growing in mid-single digits i.e. 5.7% and international volumes grew by 7.9% organically.
Varun Beverages follows a calendar year of reporting (January to December).
The Board of Directors also approved the proposal for raising of funds by way of issuance of equity shares for an aggregate amount not exceeding Rs 7,500 crore through QIP subject to receipt of approval of equity shareholders of the company.