Varun Beverages Ltd. Q3 FY2025 results: revenue ₹5,048 crore, up 2.3% on the year
Varun Beverages Ltd. (VBL) reported consolidated revenue from operations of ₹5,048 crore for Q3 FY2025, the quarter ended 30 September 2025, up 2.3% on the same quarter a year earlier. Profit after tax was ₹745 crore, up 18.5% on the year, and earnings per share ₹2.19. The figures are the company's own, from the un-audited results it filed with NSE on 29 October 2025.
The quarter, against the one before and a year earlier
| Line | Q3 FY2025 | Q2 FY2025 | Q3 FY2024 | Change on the year |
|---|---|---|---|---|
| Revenue from operations | 5,048 | 7,163 | 4,932 | +2.3% |
| Other income | 148 | 77 | 24 | +510.4% |
| Total income | 5,196 | 7,240 | 4,956 | +4.8% |
| Cost of materials consumed | 1,899 | 2,845 | 1,785 | +6.4% |
| Purchases of stock-in-trade | 89 | 99 | 146 | -39.2% |
| Changes in inventories | 132 | 247 | 205 | -35.7% |
| Employee benefit expense | 553 | 550 | 513 | +7.9% |
| Finance costs | 45 | 37 | 119 | -61.9% |
| Depreciation, depletion and amortisation | 308 | 306 | 257 | +19.9% |
| Other expenses | 1,228 | 1,278 | 1,132 | +8.5% |
| Total expenses | 4,253 | 5,507 | 4,156 | +2.3% |
| Profit before exceptional items and tax | 943 | 1,733 | 800 | +17.8% |
| Exceptional items | 0 | 0 | 0 | n/a |
| Profit before tax | 943 | 1,733 | 800 | +17.8% |
| Current tax | 179 | 366 | 174 | +3.4% |
| Deferred tax | 16 | 40 | -2 | n/a |
| Total tax | 196 | 407 | 171 | +14.2% |
| Profit after tax | 745 | 1,325 | 629 | +18.5% |
| Attributable to owners of the parent | 741 | 1,317 | 620 | +19.6% |
| Other comprehensive income | 134 | 22 | -20 | n/a |
| Total comprehensive income | 879 | 1,348 | 609 | +44.3% |
| EPS, basic | ₹2.19 | ₹3.89 | ₹1.91 | +14.7% |
| EPS, diluted | ₹2.19 | ₹3.89 | ₹1.91 | +14.7% |
₹ crore except per share.
Quarterly results, the last 12 quarters
| Q3 FY2023 | Q4 FY2023 | Q1 FY2024 | Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,938 | 2,731 | 4,398 | 7,334 | 4,932 | 3,818 | 5,680 | 7,163 | 5,048 | 4,335 | 6,722 | 8,651 |
| Expenses | 3,289 | 2,552 | 3,690 | 5,714 | 4,156 | 3,607 | 4,730 | 5,507 | 4,253 | 4,072 | 5,598 | 6,773 |
| Operating profit | 882 | 418 | 989 | 1,991 | 1,151 | 580 | 1,264 | 1,999 | 1,147 | 639 | 1,529 | 2,343 |
| OPM % | 22% | 15% | 22% | 27% | 23% | 15% | 22% | 28% | 23% | 15% | 23% | 27% |
| Other income | 19 | 9 | 8 | 44 | 24 | 45 | 28 | 77 | 148 | 99 | 44 | 104 |
| Interest | 62 | 74 | 94 | 129 | 119 | 109 | 41 | 37 | 45 | 47 | 49 | 57 |
| Depreciation | 171 | 166 | 188 | 242 | 257 | 261 | 273 | 306 | 308 | 330 | 357 | 409 |
| Exceptional items | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 667 | 188 | 716 | 1,664 | 800 | 255 | 978 | 1,733 | 943 | 361 | 1,167 | 1,981 |
| Tax % | 23% | 24% | 23% | 24% | 21% | 23% | 25% | 23% | 21% | 27% | 24% | 23% |
| Net profit | 514 | 144 | 548 | 1,262 | 629 | 196 | 731 | 1,325 | 745 | 260 | 879 | 1,525 |
| EPS in ₹ | ₹3.86 | ₹1.02 | ₹4.14 | ₹9.64 | ₹1.91 | ₹0.56 | ₹2.15 | ₹3.89 | ₹2.19 | ₹0.74 | ₹2.58 | ₹4.50 |
| Filing | NSE | NSE | NSE | NSE | NSE | NSE | Filing | Filing | Filing | Filing | Filing | Filing |
₹ crore except per share, consolidated, as filed with the exchange. Operating profit is sales less the expenses other than interest and depreciation, OPM is that over sales, and tax % is tax over profit before tax: arithmetic on the filed lines; everything else is as filed. Quarters before December 2024 are from the exchange's earlier results feed, which carries the filed lines without the filing itself; the column links to the exchange's page for the company.
Source
Un-audited consolidated results for the quarter ended 30 September 2025, filed with NSE on 29 October 2025: the result statement. All of Varun Beverages Ltd.'s results: NSE company page.
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