PepsiCo on Tuesday said its Indian business delivered a “double-digit growth” in beverage unit volumes in the third quarter of 2023. However, its “convenient foods business” had a “mid-single-digit” decline in unit volume in the September quarter, according to a global earnings statement from the food and beverages major.
PepsiCo’s net revenue in Africa, the Middle East, South Asia (AMESA) division, including India, declined 6.43 per cent to USD 1.61 billion as against USD 1.73 billion, “driven primarily by the weakening of the Egyptian pound, and a net organic volume decline, partially offset by effective net pricing”.
In AMESA, Pepsico’s “beverage unit volume grew 3 per cent, primarily reflecting double-digit growth in India and mid-single-digit growth in the Middle East…” it said.
Its “convenient foods unit volume declined 3…
