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Snacks and beverages major PepsiCo on Thursday said that its India business recorded a strong double-digit growth in organic revenues in the first quarter ended March 24, 2018.
On an investor call, Indra Nooyi, Chairman & CEO, said that the company saw strong double digit organic revenue growth in India, China, Egypt and Pakistan in the Asia, Middle East and North Africa (AMENA) region in the first quarter of the year.
She said that, “stable to improving macro conditions combined with strong market execution have led to very strong growth across many of our key international markets”.
In a statement, Nooyi said: “The majority of our businesses performed very well, including particularly strong performances in our international divisions propelled by accelerated net revenue growth in developing and emerging markets.”
The company’s India performance is in line with the growth momentum that the majority of FMCG companies are witnessing in the country, after facing challenging macro-economic conditions in the past few quarters, due to demonetisation, GST and lower rural demand. In a bid to take on local and regional competitors, this summer, PepsiCo has launched aerated fruit drinks range under brand Slice in four-five markets in India.
The “ fruit juice drink with fizz” range includes ethnic flavours such as jeera and guava chilli.
The company is also aggressively growing its direct distribution especially in the North and East region for it juices business.
In snacks too, the company has been focussing on launching innovation such as Kurkure Multigrain which comes with ragi.
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