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| PepsiCo net Q4 jumps 98% to $1.43 bn |
| Press Trust of India / New Delhi Feb 11, 2010, 20:12 IST |
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Driven by the robust sales in India, global food and beverage giant PepsiCo today reported nearly two-fold jump in its net profit at $1.43 billion for the quarter ended on December 26, 2009.
The company reported a net profit of $726 million for the quarter ended on December 27, 2008, PepsiCo said in a statement.
"Volume grew by 5 per cent in the quarter led by growth of 21 per cent in India and high single-digit growth in Thailand and Egypt," PepsiCo said.
In terms of net revenue, PepsiCo reported an increase of 4.5 per cent at $13.2 billion for the fourth quarter of the last financial year against $12.7 billion in the corresponding quarter previous year.
Commenting on the results, PepsiCo India Chairman Sanjeev Chadha told PTI that the company's strategy of focusing on innovative products and establishing deeper connect with consumers in a difficult year paid off.
"Our brands did well across the industry. However, 'Mountain Dew', 'Nimbooz' and 'My Can', stood out from the rest and did really well," he said. He added that the company gained market share significantly in India. He however, did not share the details.
The company said its overall volumes growth in 2009 was led by India, which witnessed an increase of 32 per cent, thus offsetting decline in other markets such as China.
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