Varun Beverages shares jump over 11 pcs for strong quarterly earnings in September

New Delhi, November 5 () Shares of PepsiCo India bottling partner Varun Beverages increased 11 percent after the company recorded an 83.73 percent increase in consolidated net profit for the September quarter .

The scrip advanced 11.44 percent to close trade at Rs 701.80 in the BSE. During the day, 15.44 percent was recovered at Rs 727, its maximum of 52 weeks.

In the NSE, it rose 10.47 percent to settle at Rs 698.20.

In terms of negotiated volume, 1.58 lakh shares were traded in the BSE and around 21 lakh shares changed hands in the NSE.

Varun Beverages on Monday recorded an 83.73 percent increase in consolidated net profit at Rs 81.12 million rupees for the quarter of September.

The company had recorded a profit of Rs 44.15 crore in the same period of the previous year.

Revenue from operations during the quarter was Rs 1,776.85 million versus Rs 1,204.47 million in July-September 2018, Varun Beverages said in a regulatory document.

The company follows the January-December financial year. Varun Beverages has partnered with PepsiCo for more than 27 years, which represents 80 percent of the volume of beverage sales of the American company in India. SUM RUJ RUJ

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