Snacks and beverages major PepsiCo on Tuesday said that the company has registered a strong mid-single digit growth in organic revenues in India in the fourth quarter ended December 2017.

On an analysts call, PepsiCo CEO and Chairman Indra Nooyi said that the company had seen a “very solid mid-single digit growth in Mexico and India” in terms of organic revenues in the fourth quarter.

Replying to a query, she also said that post GST, the company is seeing the India market coming back indicating improved macro-economic conditions.

Asset sale

In a statement, the company said that in the fourth quarter its Asia, Middle East and North Africa (AMENA) division saw positive gains due to an asset sale in India in the fourth quarter.

The company was referring to sale of its defunct factory located at Chembur in Mumbai to the real estate company Wadhwa Group.

The factory, which was set up for producing its beverage Duke, was defunct since 2014.

“Positively impacted by the Jordan refranchising gain, productivity gains and a gain on an asset sale in India. These impacts were partially offset by higher raw material costs (in local currency terms, driven by a weak Egyptian pound), operating cost inflation and unfavourable foreign exchange translation,” it said in a statement for the AMENA region.

The company’s AMENA division registered a 6 per cent growth in revenue in the fourth quarter ended 2017.

In the full year, this region registered a 5 per cent growth in revenues.

In India, PepsiCo launched several new products in 2017 which included vitamin-fortified water Aquafina Vitamin Splash and Mirinda Joosy, which contains orange juice sourced from Indian farmers.

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