PepsiCo’s largest franchise bottler Varun Beverages has posted over two-fold increase in its consolidated net profit at Rs 19.73 crore for the quarter ended March 31, 2018.
According to a PTI report: The company had posted a net profit of Rs 6.89 crore during the same period of the previous fiscal.
Total income during the quarter stood at Rs 1,130.53 crore. It was Rs 1,055.7 crore in the corresponding period last fiscal, Varun Beverages (VBL) said in a regulatory filing.
The company said, consequent to the introduction of the Goods and Service Tax (GST) Act in India with effect from July 1, 2017, central excise, value added tax (VAT), and some other indirect taxes have been subsumed into GST.
“Accordingly, the figures for the quarter ended March 31, 2018 are not strictly comparable to other periods presented which were gross of excise duty,” it added.
The equity shares of the company were listed on Bombay Stock Exchange and National Stock Exchange with effect from November 8, 2016.
VBL follows calendar year as its financial year.
