The Coca Cola Company said its India business recorded best ever volume growth in April-June quarter, leading the company’s overall growth in emerging markets along with Brazil. “Our India business delivered 1 billion incremental transactions in the quarter led by portable single-use packs. The company gained shares in sparkling, soft drinks, and juices. We continue to invest in marketplace availability and execution to capture growth,” said James Quincey, Chairman and CEO, The Coca-Cola Company. India is Coca Cola’s fifth largest market.
Volume sales growth across categories
In the second quarter, volume performance was driven by recovery in away-from-home channels and ongoing investments in the marketplace. Coca Cola’s earnings release said that growth in developed markets was led by Mexico, Western Europe and the United States, while growth in developing and emerging markets was led by India and Brazil. Sparkling soft drinks grew 8 per cent driven by growth across geographies, but primarily led by India, Mexico and Brazil. “Trademark Coca-Cola grew 7 per cent, driven by growth across all geographic operating segments and operating units,” it said. Bottling investment too showcased strong growth through the focus on affordable entry packs and relaunching reusable glass bottles in India. Unit case volume is the number of unit cases directly or indirectly sold by the company and its bottling partners to customers.
Plans going forward
Coca Cola said it will leverage engagement programs such as Coke Studio, online channels integrated with offline ones, and work further on its sustainable plans, etc., to keep driving growth. Globally, Coca-Cola Company’s net revenues grew 12 per cent to $11.3 billion and organic revenues (non-GAAP) grew 16 per cent. Organic revenue (non-GAAP) performance was strong across operating segments and included 12 per cent growth in price/mix and 4 per cent growth in concentrate sales. “Our results this quarter reflect the agility of our business, the strength of our streamlined portfolio of brands, and the actions we’ve taken to execute for growth in the face of challenges in the operating and macroeconomic environment,” said James Quincey.