One of the largest franchisees of PepsiCo Varun Beverages reported a 150% year-on-year (YoY) increase in its consolidated profit after tax at INR 81.5 crore for the quarter ended December 31, 2022. The company had reported a net profit of INR 32.5 crore in the same quarter of the previous fiscal year.
The company’s revenue from operations grew by 27.7% YoY to INR 2,214 crore in the December quarter of CY22. Meanwhile, the EBITDA increased by 48.1% to INR 3,07.5 crore in Q4CY22 from INR 207.6 crore in Q4CY21. Its sales volumes grew by 17.8% in the December quarter of the calendar year 2022 to 13.2 crore cases. Meanwhile, the company’s board has recommended a final dividend of INR 1/share for the financial year ending 31 December 2022.
“Our recent launches in the value-added Dairy segment have also been well-received by consumers, and we are confident that these products will continue to drive growth in the future,” says Mr Ravi Jaipuria, Chairman of Varun Beverages.