Varun Beverages Limited, PepsiCo's largest franchise bottler, on Monday reported 36 per cent rise in consolidated net profit at Rs 195.64 Crore for December quarter 2024 driven by volume growth and improved margins.
The company, which follows the calendar year as its financial year, had posted a net profit of Rs 143.76 Crore during October-December period a year ago, according to a regulatory filing from VBL.
Revenue from operations was higher at Rs 3,817.61 Crore during the fourth quarter as against Rs 2,730.98 Crore in the corresponding period last fiscal.
The "EBITDA increased by 38.7 per cent to Rs 579.97 Crore from Rs 418.29 Crore," it said in an earning statement.
Total expenses were at Rs 3,607.43 Crore as against Rs 3,862.25 Crore earlier.
For the full year 2024, consolidated net profit was up 25.3 per cent to Rs 2,634.28 Crore. Revenue from operations was higher at Rs 20,481.32 Crore as against Rs 16,321.06 Crore in 2023.
Moreover, in 2024 " mix of low sugar / no sugar products increased to 53 per cent of our consolidated sales volumes from 42 per cent in CY2023," it said.
In 2024 , EBITDA margin improved by 105 basis points to 23.5 per cent, driven by improvement in gross margins which was partially offset by consolidation of the South African market (BevCo, a South African bottler which it acquired in March 2024) and fixed cost of new capex yet to the utilised to full potential, it added.
Commenting on the outlook VBL Chairman Ravi Jaipuria said:"India volumes grew 11.4 per cent, reflecting the strength of our distribution network and operational execution."
