By Kosaku Narioka
Varun Beverages reported a rise in fourth-quarter net profit on higher revenue from its Indian and overseas markets.
The Indian soft-drink maker and PepsiCo franchisee said Monday that net profit rose 77% from a year earlier to 1.32 billion rupees ($15.9 million). The result beat the estimate of INR1.09 billion in a poll of analysts by FactSet.
Revenue for the period climbed 21% to INR27.31 billion, thanks to stronger sales in the Indian and international markets.
The company's board approved a final dividend payment of INR1.25 a share, bringing the total dividend declared for 2023 to INR2.50.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
02-05-24 0441ET