Companies

PepsiCo says India posts double-digit organic revenue growth in Q2

Meenakshi Verma Ambwani New Delhi | Updated on July 14, 2021

Volumes of both snacks and beverages witnessed strong growth

Snacks and beverage major PepsiCo on Tuesday said India clocked double-digit organic revenue growth in the second quarter. The company, which released its global earnings, also said that volumes of both snacks and beverages witnessed strong growth during this period in India.

The company said despite uneven recoveries, each of its international divisions delivered “good” organic revenue growth in the second quarter. “Many of our international markets delivered strong results including double-digit organic revenue growth in Mexico, Russia, Brazil, Turkey, Egypt, India, Germany, France, Spain, and South Africa,” the company said.

The company’s management, in an earnings calls, said in markets such as Africa, Middle East and India, a lot of challenges remain with running normal operations and it will be a while before these markets go back to normality.

Snack unit volumes

On the performance of Africa, Middle East and South Asia (AMESA) region, the company said India witnessed double-digit growth in terms of snack unit volumes in the second quarter.

“Beverage unit volume grew 38 per cent (in AMESA region), primarily reflecting a 4-percentage-point impact of our Pioneer Foods acquisition and double-digit growth in India,” PepsiCo added.

In terms of markets such as India, performance for the months of March, April and May are reflected in the company’s earnings for the 12 weeks ended June 12, 2021.

This period in India was marked with lockdown-like restrictions imposed by various State governments to curb rising cases amidst the second pandemic wave.

PepsiCo also said that it gained beverage market share in international markets such as India in the first half of the year.

Published on July 14, 2021

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