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Beverages major PepsiCo has reported a surge in its net profit for the third quarter of the fiscal year, which ended on Sep 5, by 9% to reach $1.71 billion. This increase in profit is due to the increasing demand for beverages in the Indian markets.
"India delivered very strong volume growth across carbonated soft drinks and non-carbonated beverages as targeted investments in infrastructure, significant improvements in market execution and unseasonably dry weather conditions all contributed to better than 50% growth in the country," PepsiCo said in a statement.
PepsiCo had reported a net income of $1.57 billion for the corresponding period last fiscal. But the revenues of PepsiCo has witnessed a dip to stand at $11.08 billion, when compared to the $11.24 billion in the same quarter last year.
“In Asia/Middle East/Africa (AMEA), the company has posted 9% volume growth in beverages segment, mainly on the contribution from India,” it added.
AMEA snacks has witnessed a 8% growth.
"PepsiCo's diversified food and beverage portfolio and our advantaged business model continued to drive solid results this quarter," PepsiCo chairman and CEO Indra Nooyi said.
