Beverage

Coca-Cola India FY24 results: PAT falls 42% to Rs 420 cr; revenue rises 4%

Beverages major Coca-Cola India's consolidated profit fell 41.82 per cent to Rs 420.29 crore in FY24 while its revenue rose 4.24 per cent to Rs 4,713.38 crore, according to the company's filing to RoC (Registrar of Companies). Its total income, which also includes other income, was up 4.19 per cent to Rs 4,801.84 crore during the fiscal ended March 2024, according to financial data accessed through business intelligence platform Tofler. In FY23, Coca-Cola India Pvt Ltd, an unlisted entity, had reported a net profit of Rs 722.44 crore and revenue from operations at Rs 4,521.31 crore. Its expenses on advertising and sales promotion were up 35.47 per cent to Rs 1,520.21 crore during the financial year under review. This was at Rs 1,122.11 crore a year ago. Moreover, royalties paid to its US-based parent The Coca-Cola Company also went up 4.68 per cent to Rs 507.51 crore. The total tax expense of Coca-Cola India in FY24 was down 35.34 per cent to Rs 171.42 crore. This was at Rs 265.14

Indian alcoholic beverages to see up to 10% revenue growth in FY25: ICRA

Alcoholic beverages (alcobev) companies in India are expected to report a revenue growth of 8 to 10 per cent in this financial year supported by a revival in consumption of spirits, according to a report by rating agency ICRA. The growth in the topline will also be helped by the premiumisation trend, it added. Moreover, "revenue increase in FY2025 will additionally be supported by the price hikes granted by a few state governments in the current fiscal," it said. However, operating profit margin (OPM) is expected to remain stable at 12-13 per cent in FY2025 due to decline in packaging material cost, despite increase in grain prices in H1 FY2025. "During Q1 FY2025, the spirits industry reported a 9 per cent year-on-year increase in revenues, supported by 5-7 per cent improvement in realisations, while volumes grew by 2-4 per cent," it said. Even the beer industry witnessed a higher revenue growth of 12 per cent in Q1 FY2025 owing to 3-5 per cent increase in volumes and 7-9 per cent

Diageo names Nik Jhangiani as new CFO as it recovers from profit warning

Diageo shares rose by more than 1.5% in early trading, outperforming the FTSE 100 index

Rural Indians are now spending more on processed food, drinks than cereals

For urban India, the spending on processed food has been more than that on cereals since 2011-12 but the gap has widened in the last 10 years

Coca-Cola records volume growth in India in October-December quarter

In the Asia Pacific market, its unit case volume grew 2 per cent for the quarter, primarily driven by growth in juice, value-added dairy and plant-based beverages, and sparkling flavours

Starbucks sued by group that calls its claim of ethical sourcing misleading

A consumer advocacy group filed a lawsuit against Starbucks on Wednesday, saying the company's claim that its coffee is ethically sourced is false and misleading. The National Consumers League cited media reports of abuses on farms that supply coffee and tea to Starbucks. The group said the cases cast doubt on Starbucks' packaging, which states that the company is committed to 100% ethical coffee sourcing. Starbucks said on Wednesday it was aware of the lawsuit and will aggressively defend against the asserted claims. The lawsuit was filed in Superior Court in the District of Columbia. Among the incidents cited in the lawsuit was a 2022 case in which police rescued 17 workers including three teenagers from a coffee farm in Brazil where they were made to work outdoors without protective equipment and lift 130-pound sacks of coffee. The case was covered by Reprter Brasil, a group of journalists that investigates workers' rights and environmental issues. Starbucks said on Wednesday

Carrefour says it will not sell PepsiCo products due to price hikes

Carrefour is telling customers it will no longer sell PepsiCo products like Pepsi, Lay's crisps and 7up because they had become too costly

Diageo India focuses on value over volumes business, says CIO Damodaran

Vikram Damodaran, Chief Innovation Officer (CIO), Diageo India, talks about the company's growth strategy and expansion plans, in an interview with Ayushman Baruah and Aneeka Chatterjee in Bengaluru

Coca-Cola set to invest Rs 3,000 crore to install new plant in Sanand

Once the plant begins operations, it will have a workforce of about 400 persons in operational and engineering roles

IndiGo airlines discontinues serving beverages in cans onboard flights

IndiGo on Tuesday said it has stopped serving beverages in cans onboard flights and that passengers have the option to get a complimentary glass of juice or coke on purchase of any snack, amid a former Parliamentarian complaining that one cannot buy a soft drink during a flight. BJP member and former Rajya Sabha MP Swapan Dasgupta has complained that one cannot buy a soft drink in an IndiGo flight and said the airline must stop squeezing passengers through all sorts of extras. Against this backdrop, an IndiGo spokesperson on Tuesday said the airline has revamped its services to provide an efficient, sustainable, and affordable snack experience. "This initiative aligns with our commitment to Go Green, as it has saved thousands of cans from being thrown away," the spokesperson said in a statement. The spokesperson said it has discontinued serving beverages in cans. However, the airline did not mention from when it has discontinued serving beverages in cans onboard flights. "I disco

Roastea eyes Rs 100 cr in topline, to install 5,000 vending machines

Beverage startup, Roastea is eying Rs 100 crore turnover and 5,000 vending machines network by 2024-25. "The company's tea and coffee vending machine business will be one of the key drivers of growth, and it aims to roll out over 1,500 such machines this year, aggregating to 2,500 machines," a company statement said Roastea aims to have around 5,000 vending machines installed across corporates and open 40 cafes over the next two years (by 2024-25), it added. Profitable since inception, Roastea aims to reach Rs 100 crore turnover by FY25, it stated. Focused on corporates, IoT (Internet of Things) enabled modern vending machines are manufactured at Roastea's own contracted factory. They offer fresh milk-based beverages with a unique selection of filter coffee and Indian masala chai and can serve over 20 beverages simultaneously. Roastea's co-founder Anurag Bhamidipaty said, "Vending machine business of Roastea is performing exceptionally well and serves as the primary growth driver

Industry body seeks exemption for fizzy fruit-based drinks from sin tax

The IBA is also holding discussions with the FSSAI, to differentiate the standards for sugar-free drinks and sugary beverages

United Breweries hits 52-week low as high RM prices hurt Q4FY23 margins

So far this calendar year (CY23), the stock has crashed over 20 per cent, as against 0.1 per cent rise in the S&P BSE Sensex

Reliance Consumer, udaan partners for distribution of Campa beverages

B2B e-commerce company udaan on Thursday said it has entered into a partnership with Reliance Consumer Products for pan-India distribution of beverage brand Campa's range of products. RCPL's (Reliance Consumer Products Ltd) range of Campa beverages will be initially available in over 50,000 retailers and kirana stores, which will gradually expand to over 1 lakh retailers and kirana stores in the next two months, udaan said. "We believe that the large retailer base combined with a cost-effective distribution network places udaan in a unique position to serve the needs of RCPL for deeper market penetration for the 'Campa' range across Bharat," udaan's Head for FMCG Business Vinay Shrivastava said. Under this partnership, RCPL has made available three new Campa flavours -- Cola, Orange, and Clear Lime -- under various consumption ranges and price points. "To create awareness about the availability of the Campa range on the platform, udaan will work on various retailer promotions to dr

Coca-Cola to buy minority stake in food delivery platform Thrive: Report

The partnership with Thrive is expected to drive consumer demand for Coca-Cola's beverages

A Jio moment in cola war? Reliance ups the ante with iconic brand Campa

Brand to be launched across the country, beginning with Andhra Pradesh and Telangana

'The Great Indian Taste' is back: Reliance relaunches Campa Cola

Prices iconic beverage of the 70s lower than competition

Thums Up, Maaza to go global as Coca Cola bets on 'Indian' flavours

Coca Cola is also being very 'open-minded' about two other India-created flavours, Maaza Aam Panna and Fanta Apple Delite

Little choice for beverage cos but to import paper straws as deadline looms

Cost of importing paper straws goes up significantly as India doesn't have capacities to manufacture paper straws yet

A new coffee company is taking on Starbucks in London

Blank Street Coffee, the fast-growing Brooklyn, New York-based chain, is bringing its inexpensive espresso to the UK capital in June.