Varun Beverages share falls over 5% post Q3 earnings

Varun Beverages share fell over 5% today as investors booked profit post improved Q3 earnings. Share of Varun Beverages lost up to 5.26% to  Rs 894 against previous close of Rs 943.60 on BSE.

The stock has fallen after 3 days of consecutive gain. The stock opened with a gain of 2.16% at Rs 964 today. The large cap share stands higher than 5 day, 20 day, 100 day and 200 day moving averages but lower than 50 day moving averages.

The stock has risen 10.27% in one year but lost 1.26% since the beginning of this year The share closed 4.21% or Rs 39.70 lower at Rs 903.90. Market cap of the firm  fell to Rs 26,094 crore.

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The share touched its 52-week high Rs 1,065.90 and 52-week low Rs 485.05 on 11 January, 2021 and 23 March, 2020, respectively.

The company narrowed its net loss to Rs 7.2 crore in Q3 against loss of Rs 54 crore in the same quarter last year. Revenue rose 9 percent to Rs 1,351.3 crore in Q3 against Rs 1,239.5 crore in the year-ago.

Earnings before, interest, tax, depreciation and amortisation (EBITDA) climbed 48.8 percent to Rs 172.7 crore compared to Rs 115.8 crore in Q3 FY20. Other income fell to Rs 5.6 crore in Q3 against Rs 36 crore in corresponding period of previous fiscal.

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