PepsiCo Q3 net up 4% to $2 bn; double-digit growth in India

PepsiCo Q3 net up 4% to $2 bn; double-digit growth in India
New Delhi: Driven by strong volume growth in markets like India and China, soft drinks and snacks major PepsiCo today posted 4 percent increase in net income to USD 2 billion for the quarter ended September 3, 2011, as against the same period last year.
 
During the period, the company, which sells soft drink brands like Pepsi and Mirinda, registered a revenue growth of 13 percent to USD 17.6 billion against USD 15.5 billion posted in the year ago period.
     
While the company saw worldwide beverage volume growth of 4 percent, its snacks volume increased by 8 percent during the period as against the same period last year.
     
The company said the volume performance was led by growth in emerging markets, where organic volume increased 8 percent in snacks and 3 percent in beverages.
 
"We're focused on growing our business by providing consumers around the globe with great tasting products they love at a good value, and we believe this quarter's performance is a good indication that our efforts are working," PepsiCo Chairman and CEO Indra Nooyi said.
     
The company said snacks volume grew double-digits in the Middle East, India, China and Thailand while beverage volume growth was driven by double-digit gains in India and Saudi Arabia.
     
"We had strong revenue growth across our product portfolio and across our key geographic markets. We were able to achieve pricing to partially offset commodity cost inflation and at the same time stimulate consumer demand for our products," Nooyi said.

PTI