Varun Bev's chief optimistic of Indian market over 'growing consumption class'
Varun Beverages, India's largest bottling company, has remained confident of Indian market because of growing consumption class and evolving consumer preferences after it released Q3 & 9M CY2024 financial result.
«The Indian market, with its growing consumption class and evolving consumer preferences, continues to offer immense opportunities,» said Ravi Jaipuria, Chairman, Varun Beverages Limited.
Shares of the Varun Beverages Ltd. traded at Rs 583.15 on BSE at 12:22PM (IST) on Tuesday, up 0.85 per cent.
The bottling company's revenue from operations grew by 24.1% YoY to over Rs. 48,048 million in Q3 CY2024 as compared to Rs. 38,705 million in Q3 CY2023. Net realization per case increased by 1.9% to Rs. 179.6 in Q3 CY2024.
Worry in India's FMCG's basket?
The optimism comes amid consumer goods companies including Parle, Dabur and Tata Consumer said rural demand for daily essentials and food is recovering but there is still stress in cities due to food inflation, dragging the overall growth down in the September quarter.
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