Varun Beverages, the bottler for Pepsi in India, reported a 20% increase in consolidated net profit for the first quarter of the calendar year 2026, amounting to ₹878.71 crore compared to ₹731 crore in the same quarter last year. The company's revenue from operations also saw an 18% rise, reaching ₹6,574 crore, up from ₹5,567 crore in Q1 CY25. The growth was primarily driven by a 16.3% increase in consolidated sales volume, totaling 363.4 million cases. The company’s EBITDA rose 21% to ₹1,528.93 crore, with an improved EBITDA margin of 23.3%. In India, the EBITDA margin expanded by 112 basis points, supported by operational efficiencies and strong volume growth.

Varun Beverages has declared an interim dividend of ₹0.50 per equity share for FY26, with a record date set for May 1, 2026. Despite a slight decline in net realization per case in India due to volume growth initiatives, management remains optimistic about long-term growth prospects, citing favorable demographics and increasing beverage consumption as key drivers. The company plans to continue expanding its distribution network and investing in manufacturing capacity to sustain growth.