Pepsi posts double-digit organic revenue growth in Q1
Gross profit in the March quarter was down 6.6 per cent on account of higher commodity costs, the company said in its financial statement
Pepsi has registered double-digit organic revenue growth in the first quarter.
In its global earnings statement, PepsiCo said in the convenient foods category, unit volume experienced a low-single-digit decline in the Indian market in the quarter ended on March 31, 2023.
PepsiCo's net revenue in Africa, Middle East, South Asia (AMESA) division, including India, was up 1.49 per cent to USD 1.01 billion as against USD 1 billion, primarily reflecting effective net pricing, partially offset by an organic volume decline.
However, the gross profit in the March quarter was down 6.6 per cent to USD 168 million on account of the impact of higher commodity costs, primarily cooking oil and packaging materials, certain operating cost increases, higher advertising and marketing expenses.
"Each of our international divisions reported a strong organic revenue growth, led by AMESA, which delivered double-digit organic revenue growth in both beverages and convenient foods during the quarter with India, Egypt, Saudi Arabia and Pakistan each delivering double-digit organic revenue growth and South Africa delivering high-single-digit organic revenue growth," the company statement said.
