Shares of Varun Beverages surged by over 5% in early trading on Tuesday as the FMCG company reported a 25% jump in the net profit in Q4FY24. The stock rallied by 5.53% to reach an intra-day high of Rs 1,559 per share on the NSE.
Varun Beverages announced a 25% year-on-year (YoY) increase in its Profit After Tax (PAT) for the first quarter of the calendar year, rising to Rs 548 crore from Rs 438.6 crore in the corresponding quarter last year. This growth was attributed to volume expansion, higher net realisation, and enhanced profit margins.
In Q1, net revenue surged by 11% year-on-year (YoY) to Rs 4,317.3 crore, compared to Rs 3,893 crore in the corresponding quarter last year.
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