PepsiCo India reports profit of Rs 217.26 crore in April-December 2023

New Delhi: Pepsico India Holdings' consolidated revenue from operations during April-December 2023 was at Rs 5,954.16 crore and profit was Rs 217.26 crore, according to financial data accessed by business intelligence platform Tofler.

Total income, which also includes other income, was at Rs 6,094.70 crore in the nine-month period.

The company has changed its financial year from April-March to January-December, hence it has come out with three quarters results of 2023. It follows the calendar year as financial year from January 2024.

During the nine months, its revenue from sales in the domestic market was at Rs 5,533.63 crore. Exports contributed Rs 266.19 crore to the total revenue of the company, which is not a publicly listed entity.

Revenue from the snacks business in which it operates with brands including Kurkure, Lays, Doritos and Quaker was at Rs 4,763.29 crore.

Pepsico India's revenue from the beverages business in which it operates with fizz-based drinks and juices with brands such as Pepsico, 7up, slice, Tropicana, and Gatorade was at Rs 1,036.53 crore for the nine months.

Advertising promotional expenses in April-December 2023 were at Rs 694.52 crore.

On the results, a PepsiCo India Spokesperson said: "In this 9-month period compared to the earlier 12-month period, PepsiCo India delivered resilient topline performance amid a challenging external environment." "Demand for our brands remained robust backed by strong marketing campaigns, marketplace execution, and consistent focus on end-to-end productivity. We remain committed to our growth in India and continue to invest behind our brands and marketplace infrastructure to build scale while maintaining margins in what will remain a high-demand market for many years.” For financial year 2022-23, which was of 12 months, PepsiCo India's revenue from operations was at Rs 8,203.19 crore and its total profit was at Rs 267.43 crore. Total income was Rs 8,302.34 crore.

Earlier this month, during an investors' call, PepsiCo Chairman and CEO Ramon Laguarta said India is a “high demand market”, where it is investing to scale up the infrastructure.

The company is investing in the brands to build up scale to capture the growth opportunity, he had said.

“We continue to see a lot of growth in many parts of the AMESA( Africa, Middle East & South Asia) region, in particular India is a big growth space for us and it’s an investment area for sure,” Laguarta had said.

In the second quarter (April-June) of 2024, its global parent company PepsiCo logged double-digit growth in beverages volume and convenience foods unit volume in the Indian market.

For the first quarter(January-March), the New York-headquartered multinational reported a "high single-digit growth” in its beverage unit volume and a a “double-digit growth” in convenient foods business in the Indian market.

PepsiCo entered India in 1989 and has grown to become one of the largest MNCs engaged in the business of manufacture and trading of aerated and non-aerated beverage products, juice and juice-based drinks and packed food products.