Varun Beverages PAT jumps to Rs 319 crore as lockdowns ease

ANI
02 Aug 2021, 13:57 GMT+10

Gurugram (Haryana) [India], Aug 2 (ANI): Varun Beverages Ltd (VBL), a key player in beverage industry and one of the largest franchisee of PepsiCo worldwide, said on Monday its profit after tax increased by 123 per cent to Rs 319 crore in the April to June quarter from Rs 143 crore in the same period of previous year.

The company, which follows calendar year as its financial year, reported growth in revenue from operations (net of excise/GST) by 49 per cent year-on-year to Rs 2,450 crore.

The earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 51 per cent to Rs 571 crore in Q2 2021 from Rs 378 crore in Q2 2020.

Total sales volumes were up 45 per cent at 152 million unit cases as compared to 104 million unit cases in the same period.

The board of directors has recommended an interim dividend of Rs 2.5 per share. The total cash outflow will be Rs 108 crore.

"As we look ahead, momentum in demand and consumption should further strengthen with higher vaccination drives, improving economic indicators and supportive macros such as good monsoons," said Chairman Ravi Jaipuria.

"We remain confident of reporting robust performance in the quarters ahead," he said in a statement. (ANI)

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