PepsiCo reports double-digit revenue growth for Q4 in India

New Delhi: Global food and beverages major PepsiCo on Tuesday said it has posted a double-digit' organic revenue growth in the Indian market for the first quarter.

While on the volume side, the company has reported a "high-single-digit growth" for the Indian market for the convenient foods and beverages units, said a global earning statement from PepsiCo.

In an investors call after the results, PepsiCo Chairman and CEO Ramon Laguarta said India has reported a double-digit organic revenue growth for the quarter that ended on March 19, 2022.

"Our developing and emerging markets remained resilient and delivered 18 per cent revenue growth in the quarter including double-digit organic revenue growth in Mexico, Brazil, Egypt, India and Turkey and mid-single-digit growth in South Africa and China," said Laguarta.

PepsiCo's net revenue in the first quarter of 2022 from Africa, Middle East, South Asia (AMESA) division under which India comes, was up 13.70 per cent to $1 billion as against $0.88 billion, the company said in its earnings statement. The convenient foods segment witnessed volume growth of 10 per cent in AMESA, primarily reflecting double-digit growth in the Middle East and Pakistan.

"Additionally, South Africa experienced mid-single-digit growth and India experienced high single-digit growth," it said. The beverage segment saw volume growth of 7 per cent, in AMESA for the quarter that ended on March 19, 2022.