Beverage major PepsiCo sees double-digit organic revenue growth in India

Even as beverage and snacks major PepsiCo trimmed its sales forecast for the year upon missing estimates, it witnessed double-digit organic revenue growth in India during the third quarter of the calendar year 2024 ended September 7.

“For the third quarter, developing and emerging markets such as India, Egypt, Turkey, Poland, and Vietnam each delivered double-digit organic revenue growth, Colombia delivered high single-digit growth, Brazil, South Africa, and Thailand each delivered mid-single-digit growth, while Mexico delivered low single-digit growth,” PepsiCo said in its prepared management remarks after announcing its results.

The company identified several growth regions in the international markets.

“There are pockets of growth and strength in the International market. Southeast Asia and India are markets that are growing nicely." Ramon Laguarta, chairman and chief executive officer, PepsiCo said during the post earnings call with investors.

In the AMESA (Africa, Middle East, South Asia) region, the company’s convenient foods unit volume declined 3 per cent in the 12 weeks ended September 7. This was primarily reflecting double-digit declines in the Middle East and Pakistan, while being partially offset by slight growth in South Africa and high-single-digit growth in India.

Its beverage unit volume declined 2 per cent, “primarily reflecting a mid-single-digit decline in the Middle East, a double-digit decline in Nigeria and a low-single-digit decline in Pakistan, partially offset by high-single-digit growth in India,” the company said.

Meanwhile, in the 36 weeks ending September 7 too, the company’s convenient foods unit volume grew slightly, primarily reflecting low-single-digit growth in South Africa and double-digit growth in India, while being partially offset by double-digit declines in the Middle East and Pakistan.

Its beverage unit volume grew 0.5 per cent, “primarily reflecting double-digit growth in India, partially offset by high-single-digit declines in Pakistan and Nigeria and a low-single-digit decline in the Middle East,” it said.