Varun Beverages’ Profit Rallies 150% in Dec Quarter, EBITDA Jumps 48%

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Varun Beverages’ Profit Rallies 150% in Dec Quarter, EBITDA Jumps 48%
Credit: © Reuters.

By Malvika Gurung -- Shares of the beverage producer and distributor Varun Beverages (NS: VARB ) jumped 5.7% while writing and surged 7.3% in the session to hit the day’s high at Rs 1,238.8 apiece on Monday, as the company released its earnings results for the December ending quarter.

The second largest bottling company of PepsiCo (NASDAQ: PEP )'s beverages in the world posted a consolidated net profit of Rs 74.75 crore, rallying by a whopping 150.15% YoY to Rs 81.5 crore in the December quarter, and sequentially tanking 79.4%.

The rise in the bottomline was due to an increase in prices and higher demand for expensive beverages, including the Sting energy drink, along with the festive season and delayed during the fourth quarter of the calendar year 2022.

Varun Beverages’ revenue from operations rose by 27.7% YoY to Rs 2,214 crore in Q4 CY22 but declined 43.68% sequentially in the period.

Its EBITDA surged 48.2% YoY to Rs 307.6 crore and the EBITDA margin expanded significantly to 13.9% in the fourth quarter from 12% in the year-ago period.

Further, Varun Beverages’ gross margin improved marginally to 56.3 in Q4 CY22 from 56.1% in the corresponding quarter of last year. Its total expenses zoomed 26.3 YoY to Rs 2,176.8 crore in the period.

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