Shares of Varun Beverages (VBL) rebounded on Tuesday after the company posted its results for the September quarter.

What Happened: The PepsiCo bottler posted a net profit of ₹619.6 crore, representing a jump of 21.5% year-on-year from ₹501 crore. Sequentially, the firm’s net profit declined more than 50% from ₹1,252.6 crore.

The fast-moving consumer goods firm’s revenue jumped 24% to ₹4,805 crore in the quarter ended September, compared with ₹3,871 crore posted in the same period a year ago. The company had posted a revenue of ₹7,196.8 crore in the previous quarter.

The company’s EBITDA increased by 30.5% to ₹11,51.12 crore, while its EBITDA margin improved by 117 basis points to 24% in the third quarter of calendar year 2024.

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Consolidated sales volume grew by 21.9% to 26.75 crore cases in the quarter. Heavy rains throughout the quarter led to India volumes growing by 5.7% while international volumes grew by 7.9% organically, the company said in its statement.

The company’s board has approved the proposal to raise up to ₹7,500 crore by issuing equity shares through a qualified institutional placement (QIP), VBL said in its press release.

Varun Beverages is one of the largest franchisees of PepsiCo in the world. It produces and sells beverages including Pepsi, Pepsi Black, Mountain Dew, Sting, Seven-Up and Mirinda.

Price Action: Varun Beverages was trading 1.58% higher at ₹587.60 on Tuesday morning.

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