Varun Beverages Limited Announces Unaudited Standalone and Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016
February 20, 2017 at 05:57 am EST
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Varun Beverages Limited announced unaudited standalone and consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported standalone net sales/income from operations was INR 2,414.37 million against net sales/income from operations of INR 2,888.47 million a year ago. Loss from operations before other income and finance costs and exceptional items was INR 905.6 million against loss from operations before other income and finance costs and exceptional items of INR 630.48 million a year ago. Loss from ordinary activities after finance cost and prior period items was INR 989.13 million against profit from ordinary activities after finance cost and prior period items of INR 842 million a year ago. Net loss was INR 688.42 million against net loss of INR 537.81 million a year ago. Basic and diluted loss per share was INR 3.9 against basic and diluted loss per share of INR 3.99 a year ago.
For the period, the company reported standalone net sales/income from operations was INR 29,309.71 million against net sales/income from operations of INR 28,342.21 million a year ago. Profit from operations before other income and finance costs and exceptional items was INR 3,909.24 million against profit from operations before other income and finance costs and exceptional items of INR 3,123.71 million a year ago. Profit from ordinary activities after finance cost and prior period items was INR 2,629.62 million against profit from ordinary activities after finance cost and prior period items of INR 2,189.55 million a year ago. Net profit was INR 1,867.34 million against net profit of INR 1,516.47 million a year ago. Basic and diluted per share was INR 11.04 against basic and diluted per share of INR 11.26 a year ago.
For the quarter, the company reported consolidated Net sales/income from operations was INR 4,200.56 million against net sales/income from operations of INR 3,842.99 million a year ago. Loss from operations before other income and finance costs and exceptional items was INR 726.14 million against loss from operations before other income and finance costs and exceptional items of INR 853.24 million a year ago. Loss from ordinary activities after finance cost and prior period items was INR 1,180.8 million against loss from ordinary activities after finance cost and prior period items of INR 1,291.74 million a year ago. Net loss was INR 906.06 million against net loss of INR 987.51 million a year ago. Basic and diluted loss per share was INR 5.13 against basic and diluted loss per share of INR 7.33 a year ago.
For the period, the company reported consolidated Net sales/income from operations was INR 38,251.28 million against net sales/income from operations of INR 33,642.19 million a year ago. Profit from operations before other income and finance costs and exceptional items was INR 4,228.49 million against profit from operations before other income and finance costs and exceptional items of INR 3,196.67 million a year ago. Profit from ordinary activities after finance cost and prior period items was INR 2,428.36 million against profit from ordinary activities after finance cost and prior period items of INR 1,906.09 million a year ago. Net profit was INR 1,512.56 million against net profit of INR 1,130.42 million a year ago. Basic and diluted per share was INR 8.94 against basic and diluted per share of INR 8.39 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.