BENGALURU, May 13 Reuters Varun Beverages reported its firstquarter earnings above market expectations on Monday, as the Pepsi India bottler benefited from an uptick in demand for soft drinks due to an early onset of summer.

Gurugrambased Varun Beverages39; consolidated net profit rose to 5.37 billion rupees 64.3 million for the quarter ended March 31, from 4.29 billion rupees in the yearago period. It trounced analysts39; estimates of 5.02 billion rupees, according to LSEG data.

Consumers opted more for cold beverages amid the sweltering summer heat, helping boost the firm39;s bottomline numbers.

Last month, the India Meteorological Department forecast that the country was likely to experience more heatwave days than normal between April and June.

The franchisee has been manufacturing and bottling PepsiCobranded drinks for more than three decades and operates across 10 countries.

The company said in an exchange filing that its earnings before interest, taxes, depreciation and amortisation EBITDA rose 23.9 yearonyear.

Varun Beverages, known for producing and bottling various beverages such as Mirinda, Mountain Dew, and Tropicana, said its revenue from operations in the reported quarter rose 11.3 to 43.98 billion rupees yearonyear.

In a volatile trade, the company39;s shares were down 1 at 1,449 rupees, as of 0711 GMT.

Including session39;s prices, the stock has climbed 18.4 so far in 2024, compared with a 3 decline in the fastmoving consumer goods index.

1…