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Varun Beverages (VBL), PepsiCo India's largest bottling partner, has signed an exclusive distribution pact with Danish brewer Carlsberg Breweries for select markets in Africa.VBL's African subsidiaries will test-market Carlsberg beer across territories, the company said in a regulatory filing on Wednesday, adding that it will "test opportunities for expansion into ready-to-drink and alcoholic beverages, including beer, wine, liquor, brandy, whisky, gin, rum and vodka in India and abroad".The news lifted shares of VBL more than 10%, before closing 9.1% higher at ₹495.45 apiece on the BSE.The company also announced its September quarter earnings during the day. VBL reported a 19% year-on-year rise in net profit to ₹745 crore, which it said was driven by "lower finance costs and higher other incomes which includes interest on deposits in India and favourable currency movement in the international territories". However, its revenue grew only 2.4% to ₹4,897 crore in the quarter.The company also announced the setting up of a "wholly-owned unit in Kenya" to carry on the business of manufacturing, distribution and selling of beverages".Live Events"Domestic volumes remained subdued due to prolonged rainfall across India, while international operations grew by 9%," said Ravi Jaipuria, chairman, VBL.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onvarun beveragesVarun BeveragesCarlsberg BreweriesPepsiCo IndiaAfrican marketsexclusive distribution pactalcoholic beverages (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onvarun beveragesVarun BeveragesCarlsberg BreweriesPepsiCo IndiaAfrican marketsexclusive distribution pactalcoholic beverages(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
