Varun Beverages Reports Fourth-Quarter Net Profit Growth on Higher Revenue
By Kosaku Narioka
Varun Beverages reported a rise in fourth-quarter net profit on higher revenue from its Indian and overseas markets.
The Indian soft-drink maker and PepsiCo franchisee said Monday that net profit rose 77% from a year earlier to 1.32 billion rupees ($15.9 million). The result beat the estimate of INR1.09 billion in a poll of analysts by FactSet.
Revenue for the period climbed 21% to INR27.31 billion, thanks to stronger sales in the Indian and international markets.
The company's board approved a final dividend payment of INR1.25 a share, bringing the total dividend declared for 2023 to INR2.50.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
February 05, 2024 04:41 ET (09:41 GMT)
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