Varun Beverages shares fall 4% post Q1 earnings, check details

Shares of Varun Beverages slipped 4% today after the Pepsico bottler reported its earnings for the first quarter ended March 2024. The FMCG stock fell 3.98% to Rs 1404.95 against the previous close of Rs 1463.60 in the afternoon session. A total of 3.04 lakh shares of the firm changed hands, amounting to a turnover of Rs 44.03 crore on BSE. Market cap of the firm slipped to Rs 1.86 lakh crore. The stock has zoomed 291% in two years and risen 556% in three years.

The stock touched its all-time high of Rs 1560.30 on February 26, 2024.

In terms of technicals, the relative strength index (RSI) of Varun Beverages stands at 51.8, signaling the stock is trading neither in the overbought and nor in the oversold zone. Varun Beverages shares stand higher than the 100 day, 150 day, 200 day but lower than the 5 day, 10 day, 20 day 30 day and 50 day moving averages.

Net profit rose to Rs 547.9 crore in Q1 against Rs 438.95 crore profit in the corresponding quarter of the previous fiscal. Revenue came in at Rs 4,397.9 crore, rising 11.2 percent, the company said in a regulatory filing.

Varun Beverages follows the January-December financial year.

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.