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Varun Beverages share price gains 5% on robust Q1 numbers, bonus share approval

Varun Beverages share price gains 5% on robust Q1 numbers, bonus share approval
May 04
15:04 2021

The company board has approved the bonus share in the ratio of 1 equity share for every 2 existing equity shares held.

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var titStr=”;var editw=”; var typevar=”; var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’); var phead =’Why add to Portfolio?’; if(secglbVar ==1) { var stkdtxt=’this stock’; var fltxt=’ it ‘; typevar =’Stock ‘; if(lastRsrs.length>1){ stkdtxt=’these stocks’; typevar =’Stocks ‘;fltxt=’ them ‘; } } //var popretStr =lvPOPRHS(phead,pparr); //$ (‘#poprhsAdd’).html(popretStr); //$ (‘.btmbgnwr’).show(); var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); 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Varun Beverages share price added 5 percent intraday on May 4 after the company reported robust numbers in the quarter ended March 2021(Q1) and approval of bonus share issue.

The company’s consolidated net profit jumped to Rs 136.7 crore in the quarter ended March 2021 against Rs 60 crore in the year-ago.

Revenue of the company rose 33.6% at Rs 2,270 crore versus Rs 1,699 crore, YoY.

Earnings before interest, tax, depreciation and amortizations (EBITDA) was up 40.8% at Rs 381.6 crore and margin was at 16.8 percent.

The company board has approved the bonus share in the ratio of 1 equity share of Rs 10 each for every 2 existing equity shares of Rs 10 each held as on a record date.

At 12:40 hrs, Varun Beverages was quoting at Rs 1,016.35, up Rs 12.65, or 1.26 percent on the BSE.

The share touched a 52-week high of Rs 1,095.85 and a 52-week low of Rs 571.60 on 23 February, 2021 and 22 May, 2020, respectively.

Currently, it is trading 7.25 percent below its 52-week high and 77.81 percent above its 52-week low.

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