Varun Beverages Ltd announced the initiation of commercial production for carbonated soft drinks and energy drinks at its Gorakhpur facility, which is in Uttar Pradesh, as stated in an exchange filing on April 13.
As of December 31, 2023, the company operated 40 advanced manufacturing facilities, with 34 located in India and 6 overseas.
Additionally, it manages a fleet of over 2,500 owned vehicles, collaborates with over 2,400 primary distributors, and operates more than 120 depots, the company said in its 2023 annual report.
Also Read | Buy Varun Beverages; target of Rs 1732: KR Choksey
On February 5, Varun Beverages announced a consolidated net profit of Rs 132 crore for the December quarter of FY24, marking a substantial 77 percent increase from Rs 75 crore in the corresponding period last year. Total revenue for the quarter stood at Rs 2,731 crore, reflecting a robust 21 percent growth from Rs 2,257 crore in the year-ago period.
On April 12, shares of Varun Beverages closed 2.4 percent lower at Rs 1,390. Shares of the company have gained nearly 50 percent in the past six months.
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