Varun Beverages Limited Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 01, 2022 at 02:25 am EDT
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Varun Beverages Limited reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was INR 31,766.2 million compared to INR 23,981.58 million a year ago. Revenue was INR 32,589.24 million compared to INR 24,773.68 million a year ago. Net income was INR 3,810.37 million compared to INR 2,401.41 million a year ago. Basic earnings per share from continuing operations was INR 2.935 compared to INR 1.85 a year ago. Diluted earnings per share from continuing operations was INR 2.935 compared to INR 1.85 a year ago.
For the nine months, sales was INR 109,589.07 million compared to INR 70,888.95 million a year ago. Revenue was INR 111,629.61 million compared to INR 72,604.26 million a year ago. Net income was INR 14,226.82 million compared to INR 6,775.61 million a year ago. Basic earnings per share from continuing operations was INR 10.95 compared to INR 5.215 a year ago. Diluted earnings per share from continuing operations was INR 10.95 compared to INR 5.215 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.
VARUN BEVERAGES LIMITED 
