Coca-Cola posts 1% volume growth in India in April-June

Beverages major Coca-Cola Company posted a volume growth of 1% in India in April-June as the early onset of the monsoon affected sales.

"India volume growth of 1% in the quarter was cycling 20% growth in the prior year quarter and reflects the impact of an earlier and heavier than normal monsoon season in 2013 and cycling a later than normal monsoon season in the prior year," Coca-Cola said in a statement.

The company sells a range of soft drinks and juices in India, including the flagship Coca-Cola, Thums Up, Sprite, Fanta, Limca, Maaza and Minute Maid.

The Atlanta-based firm said its sales volume globally grew by 1% in April-June. Volume growth in Vietnam was 28%, Indonesia 22%, Thailand 17% and Japan 1%.

"Slow economies in Europe, Asia and Latin America, and historically wet and cold weather conditions across multiple regions impacted consumer spending and, consequently, overall NARTD (nonalcoholic ready-to-drink) beverage industry performance," according to the statement.

The company's net income in the three months ended June 28 fell to $2.67 billion from $2.78 billion a year earlier. Net operating revenue stood at $12.74 billion compared with 13.08 billion in the same quarter last year.

Coca-Cola Company's Chairman and Chief Executive Officer Muhtar Kent said: "Volume results came in below our expectations, reflecting an ongoing challenging global macroeconomic environment and unusually poor weather conditions in the quarter."