Varun Beverages Limited, PepsiCo’s largest franchise bottler, announced its financial results for the first quarter ended March 31, 2022. The company has reported nearly a two-fold jump in consolidated net profit to Rs271.09 crore, driven by volume growth and improved revenue. The company had posted Rs136.76 during January -March quarter a year ago, an official statement highlighted.
The revenue from operations jumped 26.2% yoy to Rs2,827.47 crore driven by robust volume growth and improved net realizations in the first quarter ended March 2022.
Moreover, despite the increase in input cost, EBITDA grew by 39.1% yoy to Rs531 crore in Q1CY22 as against Rs381.62 crore in Q1CY21 and PAT jumped 98.2% yoy to Rs271.09 crore in Q1CY22 as compared.
Ravi Jaipuria, Chairman, Varun Beverages Limited. commented on this and added, “We have started the year on a strong note, delivering notable growth across all parameters. Robust demand in both domestic and international markets, also supported by the early onset of summer in India, translated to healthy volumes during the quarter. This along with improved net realizations resulted in solid net revenue growth of 26.2% in Q1CY22.”