India's Varun Beverages rises on Q2 profit beat

Varun Beverages

22/10/2024 09:35

** Shares of Pepsi India bottler Varun Beverages  VARB.NS 
rise 2%
    ** Co top gainer in consumer index  .NIFTYFMCG , which is
down 0.3%
    ** VARB posts consolidated net profit of 6.2 bln rupees in
September quarter, higher than the analysts' estimate of 5.76
bln rupees
    ** Profit rise aided by healthy demand for soda in
international markets, which outweighed a monsoon-hit domestic
market
    ** VARB's revenue from operations rises 25% Y/Y to nearly 50
bln rupees 
    ** Shares of VARB up 19.1% in 2024 so far, outperforming the
5.4% rise in the consumer index - LSEG data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))