Varun Beverages Dec qtr net loss at Rs 54 cr

PepsiCo India's bottling partner Varun Beverages on Friday reported narrowing of its consolidated net loss at Rs 53.9 crore for the quarter ended December 31, 2019. The company had posted a consolidated net loss of Rs 70.8 crore in the year-ago period, Varun Beverages said in a regulatory filing.

The company's consolidated income increased to Rs 1,275.5 crore in the October-December period, over Rs 816.8 crore in the year-ago period, the filing said. 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. The business activities of the company, its subsidiaries and erstwhile associates (together referred to as the 'group') predominantly fall within a single primary business segment -- manufacturing and sale of beverages, it said.