The world’s largest soft drinks maker, Coca-Cola, on Tuesday posted a volume growth of four per cent worldwide for the April- June quarter, driven by greater consumption of its beverages in key emerging markets like India.
The company reported a 20 per cent rise in India, the highest among BRIC countries. The company posted a nine per cent growth in volume intake in Russia, seven per cent in China and six per cent in Brazil.
In India, sparkling beverages volume grew 20 per cent in the quarter, backed by strong integrated marketing campaigns centred on music and sports, the company said. During the quarter, brand Coca-Cola volume as a standalone drink in India grew 35 per cent and Sprite grew 29 per cent, said the company statement.
Last month, chairman and CEO Muhtar Kent said the company would invest $5 billion (about Rs 28,000 crore) in India by 2020 on various activities, including setting up of new bottling plants.
This investment in India is a part of $30 billion globally planned by the company. India aims to be among the top-five countries in Coca-Cola’s markets. It is at number seven right now, he said.
The Atlanta-based company registered a net income of $2.79 billion, down from $2.80 billion a year earlier. “Volume growth in the quarter was well-balanced around the world, with a solid growth in key developed markets, including Japan, North America and Germany, as well as strong growth in key emerging markets such as India, Russia, China and Brazil,” said the beverage maker.
Volumes grew by 12 per cent in Eurasia and Africa, eight per cent in the Pacific region and three per cent in South America, even as it fell by four per cent in Europe, which has been impacted severely by the ongoing economic crisis.
“We are pleased with our second quarter and year-to-date results. We are delivering consistent quality performance in line with our 2020 vision growth targets, despite a very challenging and increasingly unpredictable global economy,” said Kent.