Shares of Varun Beverages were trading higher on 6 November after the company announced its quarterly earnings for July-September. 

The company reported a 29.98% year-on-year (YoY) increase in its consolidated net profit at Rs 514.05 crore for the quarter under review from Rs 395.48 crore reported in the year-ago period.

The total revenue during the quarter was Rs 3,937.75 crore, a 21.2% YoY increase from Rs 3,248.3 crore reported in the same quarter during the previous fiscal year. The increase in revenue was led by strong double-digit growth in both domestic and international markets. 

The Net realisation saw a 5.6% to Rs 176.3 per case, driven by an increase in realisation per case primarily in international markets. 

The company’s EBITDA (earnings before interest, tax, depreciation, and amortisation) saw a 48% YoY increase to Rs 883 crore. The EBITDA margins during the quarter stood at 22.4% from 18.4% recorded during the same quarter last year. 

The company is a key player in the beverage industry and is one of the biggest franchises of PepsiCo in the world outside the United States. The company also follows the January-December financial year. 

Ravi Jaipuria, Chairman of Varun Beverages Limited, said, “Given India’s dynamic demographic landscape, marked by a burgeoning young population and evolving consumption patterns, we believe the Indian beverage market offers a monumental growth opportunity for the decades ahead. As we intensify our foothold in India and expand our reach in Africa, our strategic initiatives are aimed towards strengthening our position in the global beverage industry.”

The company’s board has also approved the incorporation of a subsidiary company in Mozambique to carry on the business of distribution of Beverages that will help it in expanding its business operations in Mozambique. 

At 1:47 pm, the shares of Varun Beverages were trading 0.21% higher at Rs 953.85.