Varun Beverages Profit Rises
Varun Beverages reported a 13.8 percent rise in third-quarter profit as higher sales volumes offset increased packaging costs. Consolidated revenue grew 33 percent while shares fell following the earnings release.
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Varun Beverages posted a 13.8% increase in third-quarter profit to 8.28 billion rupees ($86.98 million), driven by strong sales volumes across India and international markets. The bottler for PepsiCo Inc achieved a 33.3% revenue jump to 68.16 billion rupees for the period ending September 30. Despite the top-line expansion, higher packaging expenses squeezed margins during the late evening reporting window.
