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Varun Beverages: Energy drink Sting adds zing to earnings growth

Nandish Shah   •

Focusing on under-penetrated markets, higher distribution reach, and investment in retail outlets by providing refrigeration will drive revenues and earnings growth

Varun Beverages | CMP: Rs 1,102 | The share price jumped over 5 percent after the firm reported a better-than-expected third-quarter profit on Tuesday as the Pepsi bottler benefited from price increases it had implemented to protect its margins. Profit grew by 59% to $46.1 million in the three months ended September 30. Revenue from operations increased 33% to 32.48 billion rupees for the company, which makes and bottles several PepsiCo Inc-branded drinks such as Mirinda, Mountain Dew, and Tropicana.

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This Research Report / Research Recommendation has been published by Moneycontrol Dot Com India Limited (hereinafter referred to as “MCD”) which is a registered Investment Advisor under the Securities and Exchange Board of India (Investment Advisers) ...Read More