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PepsiCo's snacks unit reports double-digit Q2 growth in India

Overall, PepsiCo’s global net revenue growth was up 20.52 per cent

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New Delhi: Despite the severe impact of the second wave, global food and beverage major PepsiCo has reported double-digit growth in India in the second quarter for March-April-May.

PepsiCo's net revenue from the Africa, Middle East, South Asia (AMESA) division under which India falls, was at $1.6 billion in the quarter, up 62.97 per cent as against $0.98 billion in the corresponding period in 2020. Overall, the company's global net revenue growth was up 20.52 per cent to $19.21 billion.

In the AMESA division, PepsiCo’s snacks unit volume reported "double-digit growth in India and Pakistan and mid-single-digit growth in the Middle East, partially offset by a high-single-digit decline in South Africa," said PepsiCo in an earning statement for Q2. “Beverage unit volume grew 38 per cent, primarily reflecting a four percentage-point impact of our Pioneer Foods acquisition and double-digit growth in India."

Additionally, the Middle East and Pakistan each experienced double-digit growth and Nigeria experienced mid-single-digit growth, it added. "The recovery from the pandemic contributed to a current-year increase in consumer demand, which had a positive impact on net revenue, unit volume and operating profit performance," the US based company said, PTI reported.

 "As mobility trends improved, our international beverage business accelerated and delivered 22 per cent organic revenue growth, while our international snack business delivered 11 per cent organic revenue growth," said PepsiCo.

Over the outlook, the company is expecting its international markets to perform well despite an uneven recovery across geographies as vaccination efforts and mobility trends vary.

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