Varun Beverages jumps 8.5% on Carlsberg partnership, Q3 PAT up 19%
Shares of Varun Beverages surged 8.5% on October 29 after the company announced a partnership with Carlsberg to test-market beer in select African territories. The move comes alongside a 19% rise in Q3 net profit to ₹745 crore, driven by lower finance costs, higher other income, and favorable currency movements.
Revenue for the quarter grew 2% to ₹4,897 crore, with international operations, particularly South Africa, delivering strong growth. Domestic volumes were subdued due to prolonged rainfall, News.Az reports, citing foreign media.
The company also incorporated a wholly-owned subsidiary in Kenya to expand its beverage operations and is diversifying into RTD and alcoholic beverages, including beer, wine, and spirits.
EBITDA remained flat, with margins declining slightly to 23.4% from 24% year-on-year.
Chairman Ravi Jaipuria highlighted ongoing efficiency improvements and strategic investments to strengthen Varun Beverages’ presence in key international markets.
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