PepsiCo reports 7.6 percent rise in quarterly profit

(Reuters) - PepsiCo Inc reported a 7.6 percent rise in quarterly profit, helped by higher demand for its snacks sold under the Frito-Lay brand in North America as well as lower costs.

Revenue from Frito-Lay business rose 3.2 percent. Total selling and general costs fell 0.7 percent to $5.87 billion.

However, sales in its North America beverage unit, the company's largest, fell 3.4 percent to $5.33 billion in the third quarter ended Sept. 9, the maker of Gatorade and Diet Pepsi said on Wednesday.

While volume sales were down 6 percent, net pricing was up 1 percent.

Net income attributable to the company rose to $2.14 billion, or $1.49 per share, in the quarter, from $1.99 billion, or $1.37 per share, a year earlier.

 

Net revenue rose 1.3 percent to $16.24 billion.

(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Arun Koyyur)