Varun Beverages reported a consolidated net loss of Rs 53.95 crore in Q4 December 2019, lower than net loss of Rs 70.82 crore in Q4 December 2018.
Consolidated revenue from operations jumped 54.14% to Rs 1239.53 crore in Q4 December 2019 as compared to Rs 804.13 crore reported in Q4 December 2018.The company reported a pre-tax loss of Rs 64.16 crore in Q4 December 2019, lower than pre-tax loss of Rs 86.59 crore reported in Q4 December 2018.
The company reported a 142.2% jump in consolidated EBITDA to Rs 115.74 crore in Q4 December 2019 from Rs 47.79 crore reported in Q4 December 2018.
Shares of Varun Beverages were trading 7% higher at Rs 831.10.
Commenting on the performance for Q4 & 2019 Ravi Jaipuria, Chairman, Varun Beverages said, "We have delivered a topline growth of 40%, EBITDA growth of 44%, and PAT growth of 58% in 2019. The performance was primarily driven by robust volumes reported in both the Indian and International markets. Improved performance in underpenetrated territories acquired in 2017 and early 2018 resulted in a healthy domestic organic volume growth of 13%. While Q4 is typically a seasonally weak quarter, the losses were notably lower in comparison to Q4 2018 on account of better business efficiencies, cost containment strategies and integration of new territories that are relatively less seasonal. We expect this trend to sustain as we work on further fortifying our core strengths and aim to improve our penetration in these newly acquired territories. Looking ahead, we will continue to build upon our key position in the beverage industry with presence in the fast growing markets, solid infrastructure and a well-entrenched distribution network. Furthermore, we are constantly looking at opportunities to innovate and upgrade our product portfolio to tap the shift in consumer preferences across existing and new markets. This along with improving demand in our core markets should enable higher and sustained performance in the longer term."
Varun Beverages is one of the largest franchisee of PepsiCo in the world (outside USA). The company produces and distributes a wide range of carbonated softdrinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold undertrade marks owned by PepsiCo.
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