Near term positive for Delhivery as firm clocks first profit in Q3

Led by robust volume growth, Varun Beverages posted a better-than-estimated performance in the 2023-24 October-December quarter. As one of PepsiCo’s largest franchisees globally, the company achieved a 20 per cent year-on-year (Y-o-Y) revenue growth, with volumes accounting for about 17 per cent, and the remaining being realisation gains.

Since its results, the stock has gained over 5 per cent and is currently trading at Rs 1,370.6 per share.

The Indian market led on the volume front, experiencing a growth of 19 per cent, while international markets posted a 16 per cent growth. Realisation growth was driven by a better product mix in the country and higher realisations in overseas markets.