Companies

PepsiCo reports organic revenue growth in India in Q3

Meenakshi Verma Ambwani New Delhi | Updated on October 01, 2020 Published on October 01, 2020

Snacks and beverage major PepsiCo on Thursday said India recorded high single digit organic revenue growth in the third quarter of the year, on the back of growth in snacks volumes.

PepsiCo Chairman and CEO Ramon Laguarta said the international businesses improved “meaningfully” in the third quarter. “Some notable highlights include double-digit organic revenue growth in France, Australia, and Brazil, high-single digit growth in India and mid-single digit growth in the U.K., China and Russia,” he stated in his remarks on the third quarter earnings.

In terms of performance in the Africa, Middle East and South Asia (AMESA) region, the company noted that snacks volumes in India witnessed a high single digit growth in the third quarter ended September 5.

However, beverage volumes reflected a double digit decline in India in the quarter under review. PepsiCo said that in the AMESA region, “Beverage volume declined 4 per cent, primarily reflecting a double-digit decline in India, a mid-single-digit decline in Pakistan and a low-single-digit decline in the Middle East, partially offset by mid-single-digit growth in Nigeria,” in the third quarter.

While the country has gradually been unlocking economic activities after a nationwide Covid-induced lockdown, beverage companies are still facing challenges due to slower pick up in out-of-home channel.

Ahmed ElSheikh, President, PepsiCo India, had earlier this week told BusinessLine that the Indian FMCG industry is slowly showing signs of revival in the Covid-hit world. He added that the company has adapted quickly and re-strategised its price-pack programmes, enhanced consumer engagement initiatives and doubled down attention on both B2C and B2B distribution models to meet consumer demand.

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Published on October 01, 2020
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