Varun Beverages Quarterly Profit Rises but Misses Consensus
Provided by
Dow Jones
By Kosaku Narioka
Varun Beverages reported a rise in second-quarter net profit, thanks to strong revenue growth.
The Indian soft-drink maker and PepsiCo franchisee said Tuesday that net profit rose 26% from a year earlier to 12.53 billion rupees, equivalent to $149.6 million, for the three months ended June.
The quarterly profit, however, missed the estimate of 12.67 billion rupees in a poll of analysts by FactSet.
Second-quarter revenue increased 29% to 73.34 billion rupees.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
July 30, 2024 06:54 ET (10:54 GMT)
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