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Varun Beverages Q2 revenue increased by 13.5% and net profit upsurges 25% to Rs 1005 crore
Aug 3, 2023
On August 3, Varun Beverages Ltd. announced consolidated net profit for the June quarter of FY24 at Rs. 1005.4 crore, up 25.3% from Rs. 802 crore in the same period of the prior financial year.
According to a regulatory filing, the company's total revenue is Rs 5699.7 crore, up 13.5 percent from Rs 5,017.57 crore in the same quarter last year.
EBITDA increased by 20.8 percent to Rs 1511 crore during the quarter. According to the company's investor presentation, better gross margins and operational efficiencies led to an increase in EBITDA margins of 169 basis points to 26.9% in Q2 CY2023.
The Board of Directors has approved an interim dividend at 25% of face value at Rs. 1.25 per share, in accordance with the Company's dividend policy. Around Rs. 1,624 million would be the total cash outflow.
Source: Media Reports
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