Varun Beverages Limited reported earnings results for the second quarter and six months ended June 30, 2024. For the second quarter, the company reported sales was INR 71,968.62 million compared to INR 56,114.02 million a year ago. Revenue was INR 73,776.98 million compared to INR 57,413.35 million a year ago. Net income was INR 12,526.03 million compared to INR 9,938.11 million a year ago. Basic earnings per share from continuing operations was INR 3.856 compared to INR 3.06 a year ago. Diluted earnings per share from continuing operations was INR 3.852 compared to INR 3.06 a year ago.
For the six months, sales was INR 115,141.75 million compared to INR 95,043.77 million a year ago. Revenue was INR 117,840.31 million compared to INR 97,040.62 million a year ago. Net income was INR 17,898.74 million compared to INR 14,228.83 million a year ago. Basic earnings per share from continuing operations was INR 5.508 compared to INR 4.38 a year ago. Diluted earnings per share from continuing operations was INR 5.508 compared to INR 4.38 a year ago.
Varun Beverages Limited is an India-based company, which is a franchisee of PepsiCo. It produces and distributes a range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo. PepsiCo CSD brands produced and sold by it include Pepsi, Pepsi Black, Mountain Dew, Sting, Seven-Up, Mirinda Orange, Seven-Up Nimbooz Masala Soda and Evervess. PepsiCo NCB brands produced and sold by it include Tropicana Slice, Tropicana Juices (100% and Delight), Seven-Up Nimbooz, Gatorade as well as packaged drinking water under the brand Aquafina. It has approximately 34 manufacturing plants in India and over six manufacturing plants in international geographies (two in Nepal and one each in Sri Lanka, Morocco, Zambia and Zimbabwe). Its subsidiaries include Varun Beverages (Nepal) Private Limited, Varun Beverages Lanka (Private) Limited, The Beverage Company Proprietary Limited, and others.
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