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Varun Beverages shares jump over 11 pc on strong Sept qtr earnings

Press Trust of India  |  New Delhi 

Shares of PepsiCo India's bottling partner Varun Beverages on Tuesday zoomed over 11 per cent after the company posted an 83.73 per cent increase in consolidated net profit for the September quarter.

The scrip advanced 11.44 per cent to close the trade at Rs 701.80 on the BSE. During the day, it rallied 15.44 per cent to Rs 727 -- its 52-week high.

On the NSE, it climbed 10.47 per cent to settle at Rs 698.20.

In traded volume terms, 1.58 lakh shares were traded on the BSE and about 21 lakh shares changed hands on the NSE.

Varun Beverages on Monday posted an 83.73 per cent increase in consolidated net profit at Rs 81.12 crore for the September quarter.

The company had clocked a profit of Rs 44.15 crore in the year-ago period.

Revenue from operations during the quarter stood at Rs 1,776.85 crore as against Rs 1,204.47 crore in July-September 2018, Varun Beverages said in a regulatory filing.

The company follows January-December financial year.

Varun Beverages has been associated with PepsiCo for over 27 years accounting for 80 per cent of the US firm's beverage sales volume in India.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 05 2019. 16:25 IST