PepsiCo clocks high single-digit growth in India in Oct-Dec quarter

Topics PepsiCo | Q3 results

Global food and beverages major PepsiCo said it has clocked a high single-digit growth in the Indian market in the October-December quarter.

However, the growth in the Indian market was slower than some emerging markets like Brazil, where it reported double-digit growth.

"Our fourth quarter international growth featured double-digit organic revenue growth in Brazil, high-single-digit growth in China, India, Australia and Germany, and mid-single-digit growth in the UK and Russia," PepsiCo Chairman and CEO Ramon Laguarta said in an earnings call.

The company has gained market share in the beverage segment in India during the quarter.

"Our business momentum helped us gain savory share in many of our key snack markets, including Mexico, Brazil, China and Russia, and for beverages, we gained share in China, India, the UK, Germany, Egypt and Thailand within the year," Laguarta added.

Overall, PepsiCo's global beverage business has accelerated in Q4 and its global snacks and food business remained resilient, the New York-based company said in a statement.

PepsiCo, maker of Pepsi cola,Quaker Foods,Cheetosand Lays, reported 8.8 per cent revenue growth to USD 22.46 billion in the October-December quarter.

"Our results were indicative of the strength and resilience of our highly dedicated employees, diversified portfolio, agile supply chain and go-to-market systems and strong marketplace execution even in the face of difficult COVID-19 challenges," said Laguarta.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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