Coca-Cola's India volume continues to grow

The Coca-Cola Company today said it achieved its 17th consecutive quarter of volume growth in India, but did not specify how much it was.

The strong growth in India is “despite record rainfall in the September quarter and cycling very strong 37 per cent growth in the prior year quarter”.

Meanwhile, Coca-Cola posted a seven per cent rise in its consolidated net income at $2.067 billion in the third quarter, over the same period last year.

The company, which had a net income of $1.92 billion in the same period a year ago, attributed the robust growth to its worldwide volume growth of five per cent, coming from India, Turkey, East and Central Africa, among others.

Coca-Cola Company Chairman and Chief Executive Officer Muhtar Kent said: “We continue to build on our momentum, delivering solid volume, revenue and profit growth during this quarter, with our results exceeding all of our long-term targets and generating sustainable value for our share owners.”

“We successfully completed our acquisition of CCE’s North American business and the sale of our Norway and Sweden bottling operations to CCE, on plan and in line with our commitment," Kent said.

The company also said the volume growth was led by brand Coca Cola, up by four per cent in the quarter and year-to-date.

“We also gained volume share in energy drinks. Internationally, we gained volume and value share in total NARTD (non-alcoholic ready to drink) beverages. Incremental volume was evenly balanced between sparkling and still beverages,” he said.