PepsiCo posts double digit volume growth in India
PepsiCo Inc Thursday said its snacks and beverage businesses in India have grown by double digits in volume terms for the three months ended March 31, 2012.
New Delhi: PepsiCo Inc Thursday said its snacks and beverage businesses in India have grown by double digits in volume terms for the three months ended March 31, 2012.
"Snacks delivered its 9th consecutive quarter of double-digit volume growth in Asia, Middle East & Africa (AMEA), with first quarter snacks volume growing double digits in India, Australia, Thailand and the Middle East," PepsiCo said in a statement.
The company's beverage volume growth in the region was driven by double-digit gains in India, Saudi Arabia and the Philippines, it said.
In the AMEA, the company registered net revenue growth of 12 percent driven by effective net pricing and volume growth. Its snacks volume increased 16 percent and beverage volume grew by 2 percent, it added.
During the first quarter, the company posted a net revenue of USD 12.43 billion compared to 11.94 billion in the corresponding period of previous year.
Net income of the company stood at USD 1.13 billion for the first quarter against USD 1.14 billion in the same period last year.
"Our first quarter results reflect the strength of our brands which allowed us to implement significant pricing actions," PepsiCo Chairman and CEO Indra Nooyi said.