Companies

PepsiCo clocks mid-single-digit Q1growth in organic revenues in India

Meenakshi Verma Ambwani New Delhi | Updated on April 15, 2021

Also witnesses high-single-digit growth in terms of snacks unit volumes

Snacks and beverage major PepsiCo said it witnessed a mid-single digit organic revenue growth in India in the first quarter this year.

On Thursday, the company released its global earnings for the first quarter ended March 20.

Talking about the performance in international markets, the company’s management said, “Our developing and emerging markets remained resilient and delivered mid-single-digit organic revenue growth in the quarter, including double-digit growth in Brazil, Russia and China, mid-single-digit growth in India and low-single-digit growth in Mexico.”

It added that the first quarter period only incorporates the months of January and February, in most of its international markets.

The company also witnessed high-single-digit growth in terms of snacks unit volumes in India during the first quarter. However, beverage unit volumes remained subdued during this period and witnessed a mid-single-digit decline.

Talking about business performance in the Africa, Middle East and South Asia (AMESA) region, PepsiCo said, “snacks unit volume grew 232 per cent, primarily reflecting a 228-percentage-point impact of our Pioneer Foods acquisition, double-digit growth in Pakistan and high-single-digit growth in India partially offset by a low-single-digit decline in the Middle East.”

In the AMESA region, “beverage unit volume grew 5.5 per cent, primarily reflecting a 4-percentage-point impact of our Pioneer Foods acquisition and double-digit growth in Pakistan, partially offset by a mid-single-digit decline in India and a slight decline in the Middle East,” PepsiCo added.

Published on April 15, 2021

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