Varun Beverages announced Q2FY23 results: Q2FY23: Revenue grew 32% YoY to Rs. 31,766 million EBITDA higher by 41% YoY to Rs. 6,990 million PAT higher by 53% YoY to Rs. 3,955 million 9MCY23: Revenue grew 55% YoY to Rs. 109,589 million EBITDA higher by 71% YoY to Rs. 24,806 million PAT increased by 106% to Rs. 14,686 million Commenting on the performance for Q3 & 9M 2022 Mr. Ravi Jaipuria, Chairman, Varun Beverages Limited said, “We are pleased to report yet another strong quarter, delivering a net revenue growth of 32% and a PAT growth of 53% YoY. Our India business has delivered a solid organic volume growth of 22% led by a favorable demand environment and strong performance of our energy drink - Sting. In addition, healthy double-digit sales volume growth of 31% in our key international markets further assisted performance during the quarter. Post Covid related setbacks over the last two years, we are now increasingly improving our presence by expanding our distribution reach across markets. This will help us gain a larger share in the growing market. On the product portfolio front, we are pleased to share that Sting continues to perform exceedingly well across geographies. Similarly, our launches in the value added Dairy segment are seeing healthy consumer response and we remain confident of improving contribution from these new launches, going ahead. Overall, the demand environment for the beverage industry has been robust and we are witnessing a healthy offtake in India as well as in our international markets. The festive season in Q4 is expected to further aid consumption trends in this calendar year. We are confident that we can sustainably deliver healthy volume growth across all product categories going forward and further strengthen our market position in the beverage industry.“ Result PDF