Varun Beverages shares jump over 9 pc post earnings announcement

New Delhi, Oct 29 (PTI) Shares of Varun Beverages Ltd, a leading bottler of beverages major PepsiCo, on Wednesday surged over 9 per cent after the firm reported an 18.5 per cent rise in consolidated profit after tax in the September quarter.

The stock jumped 9.17 per cent to settle at Rs 495.45 apiece on the BSE. During the day, it zoomed 10.34 per cent to Rs 500.80.

On the NSE, the stock climbed 9 per cent to Rs 495.45 each.

The company's market valuation went up by Rs 14,070.32 crore to Rs 1,67,560.63 crore.

Varun Beverages Ltd on Wednesday reported an 18.5 per cent rise in consolidated profit after tax to Rs 745.2 crore in the September quarter, driven by lower finance cost and higher other income.

The company had posted a consolidated profit after tax (PAT) of Rs 628.83 crore in the same quarter last fiscal, Varun Beverages Ltd (VBL) said in a regulatory filing.

The growth in PAT was driven by lower finance cost and higher other income, which includes interest on deposits in India and favourable currency movement in international territories, it said.

Consolidated revenue from operations in the third quarter stood at Rs 5,047.74 crore against Rs 4,932.06 crore in the year-ago period, it added.

Total expenses in the quarter under review were higher at Rs 4,253.18 crore compared to Rs 4,156.09 crore in the corresponding quarter last fiscal, the company said.

VBL follows the calendar year as its financial year, as approved by the Company Law Board, New Delhi. PTI SUM SUM SHW