Q1 Results: Large Cap FMCG Stock Declares Stock Split, Net Profit Soars 69% YoY

Large cap FMCG stock, Varun Beverages Ltd on Tuesday declared 69% year-on-year (YoY) jump in its consolidated profit after tax to Rs 429 crore for the quarter ended March 31, 2023. It declared its net profit at Rs 254 crore last year in the same quarter.

Varun Beverages' revenue from operations rallied 37.8% YoY to Rs 3,952.5 crore in the quarter ended March 31, 2023 as against Rs 2,867.4 crore declared in March 2022.

The company has also declared stock split on May 2, 2023. Shares of Varun Beverages hit its new 52-week high in trade on Tuesday. Check details below:

Varun Beverages Declares Stock Split: According to the BSE filing of the company, "Sub-division/split of existing Equity Shares of the Company from l(One) Equity Share having face value of Rs. 10/- (Rupees Ten only) each fully paid-up, into 2 (Two) Equity Shares having face value of Rs. 5/- (Rupees Five only) each fully paid-up, subject to the approval of Equity Shareholders of the Company through Postal Ballot."

Varun Beverages Stock Performance & Return: The last trading price of Varun Beverages is Rs 1460.00 with intraday gain of 1.12% on BSE. The stock's 52-week high price is Rs 1480.00 per share and 52-week low price is Rs 675.00 per share, respectively. The company's market capitalisation is Rs 94,965.38 crore.

The stock gave 26% return in last 3-months, surged 29% in last 6-months, offered 97% return in last 1-year, 244% return in last 2-years, and 388% return in last 3-years.

Varun Beverages About: Varun Beverages Limited ("VBL" or the "Company") is a key player in beverage industry and one of the largest franchisee of PepsiCo in the world (outside USA). The Company manufactures, distributes and sells a wide range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo. VBL has been associated with PepsiCo since the 1990s, according to its LinkedIn page.

Disclaimer: The large cap company, Varun Beverages declared Q1 result and stock split on May 2, 2023. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.