Varun Beverages shares gained 0.69% from the day’s low after the company reported a solid performance for Q3 CY24, with consolidated revenue growing 24.1% YoY.
Despite the challenges posed by heavy rains in India, the company’s expansion of its distribution network, increased product penetration and favourable demand patterns in key regions drove growth.
The company’s net profit increased by 22.3% year on year to ₹629 crore, from ₹514 crore in Q3 CY23.
EBITDA for the quarter increased by 30.5%, supported by enhanced operating efficiencies, resulting in a 117 bps improvement in EBITDA margins. In addition, the company’s PAT (Profit After Tax) increased by 22.3% YoY for the quarter.
As of 12:18 pm, Varun Beverages shares were trading 0.24% higher at Rs 579.85 on the NSE.
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