Varun Beverages Limited Announces Unaudited Standalone and Consolidated Earnings Results for the First Quarter Ended March 31, 2017
May 12, 2017 at 06:13 pm EDT
Share
Varun Beverages Limited announced unaudited standalone and consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, on consolidated basis the company reported total income from operations was INR 10,644.19 million against INR 10,375.04 million a year ago. Profit before tax and share of profit in associate was INR 14.076 million against loss before tax and share of profit in associate of INR 622.21 million a year ago. Profit before tax was INR 142.91 million against loss before tax of INR 618.31 million a year ago. Net profit attributable to owners was INR 45.08 million against loss of INR 517.86 million a year ago. Diluted profit per share was INR 0.25 against diluted loss per share of INR 3.86 a year ago. EBITDA increased by 14.9% year on year to INR 1,372 million from INR 1,195 million a year ago.
For the quarter, on standalone basis, the company reported total income from operations was INR 8,612.2 million against INR 8,451.44 million a year ago. Profit before tax was INR 330.54 million against loss before tax of INR 361.34 million a year ago. Net profit for the period was INR 268.22 million against net loss of INR 281.15 million a year ago. Diluted profit per share was INR 1.47 against INR 2.09 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.