Varun Beverages extends fall, slips 7% on weak volume growth in March qtr

Organic volumes for the company got severely impacted in the last 10 days of March due to the spread of Covid-19 and the subsequent lockdown restrictions, the company said.

Shares of Varun Beverages slipped 7 per cent to Rs 573 on the BSE on Thursday, thus falling 15 per cent in four days after the company reported a weak volume growth in January-March quarter (Q1CY20), due to the outbreak of coronavirus (Covid-19).

The company’s quarterly sales volumes in Q1 was up 26.2 per cent - 114 million unit cases against 90 million unit cases in the same quarter last year. In Q4CY19, it had reported 80.7 per cent year-on-year (YoY) growth in sales volumes and 60.5 per cent YoY in Q3CY19.

Organic volumes for the company got