Varun Beverages stock jumps over 11 pc on strong Sep quarter earnings

Shares of PepsiCo India's bottling partner Varun Beverages on Tuesday zoomed over 11 percent after the company posted an 83.73 percent increase in consolidated net profit for the quarter ended September. The scrip jumped 11.44 percent to Rs 701.85 -- its 52-week high -- on the BSE.

On the NSE, it rallied 11.07 percent to a one-year high of Rs 702. Varun Beverages on Monday posted an 83.73 percent increase in consolidated net profit at Rs 81.12 crore for the quarter ended September 30, 2019.

The company had clocked a profit of Rs 44.15 crore in the year-ago period. Revenue from operations during the quarter stood at Rs 1,776.85 crore as against Rs 1,204.47 crore in July-September 2018, Varun Beverages said in a regulatory filing.

The company follows a January-December financial year. Varun Beverages has been associated with PepsiCo for over 27 years accounting for 80 percent of the US firm's beverage sales volume in India.