Coca Cola posts 19% volume growth in India in Q3
Beverages major Coca Cola Company on Tuesday posted 19 percent growth in sales in volume terms in India for the third quarter of the current year, on the back of strong growth in sparkling beverages and marketing activities.
New Delhi: Beverages major Coca Cola Company on Tuesday posted 19 percent growth in sales in volume terms in India for the third quarter of the current year, on the back of strong growth in sparkling beverages and marketing activities.
The company, which on Tuesday announced its global earnings for the third quarter, said its Eurasia and Africa Group's volume increased 6 percent in the quarter and 7 percent year-to-date, led by strong results in India (over 19 percent) and the Middle East and North Africa(over 9 percent).
"India volume grew 19 percent in the quarter, our 21st consecutive quarter of growth, with strong 19 percent growth in sparkling beverages led by integrated marketing programs across music, sports and reality media programming," Coca Cola said in a statement.
The company's overall global sales in volume terms grew 5 percent in the quarter.
Brand Coca-Cola's volume grew 3 percent in the quarter driven by a number of markets around the world, including 17 percent in India, 11 percent in Argentina, 7 percent in China, 6 percent in Mexico and 5 percent each in France, Germany and Great Britain, the company said.
In the third quarter the company's net revenue stood at USD 12.2 billion, up 45 percent compared to the same quarter last year. Net income for the period under review stood at USD 2.2 billion, up 8 percent from the same period a year ago.
Commenting on the company's performance, Muhtar Kent, Chairman and Chief Executive Officer of the Coca-Cola Company, said: "We are pleased with our third quarter results. For a sixth consecutive quarter, we delivered performance results in line with or ahead of our long-term growth targets".