Varun Beverages Reports Fourth-Quarter Net Profit Growth on Higher Revenue

By Kosaku Narioka

Varun Beverages reported a rise in fourth-quarter net profit on higher revenue from its Indian and overseas markets.

The Indian soft-drink maker and PepsiCo franchisee said Monday that net profit rose 77% from a year earlier to 1.32 billion rupees ($15.9 million). The result beat the estimate of INR1.09 billion in a poll of analysts by FactSet.

Revenue for the period climbed 21% to INR27.31 billion, thanks to stronger sales in the Indian and international markets.

The company's board approved a final dividend payment of INR1.25 a share, bringing the total dividend declared for 2023 to INR2.50.

Write to Kosaku Narioka at [e-mail]

(END) Dow Jones Newswires

02-05-24 0441ET