Varun Beverages Q2 profit rises 25% to Rs 307 crore

PepsiCo’s largest franchise bottler Varun Beverages today posted 24.92 percent increase in its consolidated net profit to Rs 306.78 crore for the second quarter ended June 30, 2018.

The company, which follows calendar year as its financial year, had posted a net profit of Rs 245.58 crore during the same period previous fiscal.

Total income during the quarter stood at Rs 2,097.49 crore. It was Rs 1,938.67 crore in the corresponding period last fiscal, Varun Beverages (VBL) said in a regulatory filing.

The company said consequent to the introduction of the Goods and Service Tax (GST) Act with effect from July 1, 2017, central excise, value-added tax (VAT), and some other indirect taxes have been subsumed into GST.

“Accordingly, the figures for the quarter ended June 30, 2018, is not strictly comparable to other periods presented which were gross of excise duty,” it added.

Meanwhile, the company’s Board has recommended an interim dividend of Rs 2.5 per share.

The company’s stock was trading 2.23 percent lower at Rs 744.55 apiece on BSE.

Source:-https://retail.economictimes.indiatimes.com/news/food-entertainment/grocery/varun-beverages-q2-profit-rises-25-to-rs-307-crore/65337504

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