The company's Q3FY20 consolidated net profit rose 83.7 percent at Rs 81.1 crore versus Rs 44.1 crore.
Shares of Varun Beverages gained 6.6 percent intraday on November 5 after broking house CLSA maintained buy rating with a price target of Rs 860 per share.
The company has posted strong growth in the international segment and it remains as our preferred pick in the consumer space, said CLSA.
The double-digit growth appears commendable in the current context and management appeared confident in its near-term outlook, it said.
There is steady progress on the recently acquired South & West territory and despite the large acquisition, there has been no negative surprise on margin.
The company's Q3FY20 consolidated net profit rose 83.7 percent at Rs 81.1 crore versus Rs 44.1 crore, while revenue was up 47.5 percent at Rs 1,777 crore versus Rs 1,204.5 crore, YoY.
Its EBITDA was up 54.2 percent at Rs 325.6 crore and EBITDA margin was up at 18.3 percent.At 09:35 hrs Varun Beverages was quoting at Rs 659.80, up Rs 30.05, or 4.77 percent on the BSE.LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.