New Delhi, July 29 -- Varun Beverages, one of the largest franchisees of PepsiCo globally (outside the USA), announced its June quarter results on July 29, reporting a 3% decline in consolidated sales volumes to 389.7 million cases in Q2 CY25, down from 401.6 million cases a year earlier, impacted by the unusually early onset of monsoon rains during the peak summer months in India.

Indian volumes fell 7.1%, while international volumes grew 15.1%, led by a 16.1% increase in South Africa, partially offsetting the overall decline. Net realization per case at the consolidated level improved 0.5%, driven by a 6.6% improvement in international markets.

Revenue from operations decreased 2.5% YoY to Rs.7,017 crore in Q2 CY25, compared to Rs.7,1...