Varun Beverages Sales Increase in Second Quarter

Varun Beverages on Monday posted 83.73 per cent increase in consolidated net profit at Rs 81.12 crore for the quarter ended September 30, 2019.

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.

“Our India business has delivered an organic volume growth of 17.5 per cent and our international territories have registered a 27 per cent growth led by exceptional performance in under penetrated territories acquired in 2017 and early 2018,” Varun Beverages Chairman Ravi Jaipuria said.

Besides, the company’s key markets like Morocco, Zimbabwe, Nepal and Sri Lanka have reported double-digit growth in the quarter under review, he added.

The company’s board also approved acquiring control of Angelica Technologies. Majority of directors in Angelica will be appointed by Varun Beverages.

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.

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