Mumbai, Oct. 29 -- Shares of PepsiCo bottler Varun Beverages Ltd soared by over 9% after the company announced an exclusive distribution partnership with Carlsberg Breweries for select southern African markets.

Though volumes for the company's international business grew 9% year-on-year during the September quarter, they remained flat in India due to the prolonged monsoons, which impacted demand for colas, juices, and other beverages. Summer is the peak season for beverage companies.

The company's consolidated revenues rose by a modest 1.9% on-year to Rs.4,896.7 crore, while earnings before interest, taxes, depreciation, and amortisation (Ebitda) fell by 30 basis points. One basis point is one-hundredth of a percentage point.

"We have ...