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Global beverage major Coca-Cola remains bullish on India, with a double-digit volume growth reported from the country in the second quarter ended June 28.
“The India business recovered nicely from a slow start at the beginning of the year, driven by the strong performance of Sprite and Fanta and local brands like Thums Up. We saw double-digit volume growth in the country,” said James Quincey, chief executive officer, Coca-Cola Company, during the quarterly earnings call with investors.
“With a strong second quarter, the India business had a big swing on results. Going forward, while growth won’t be a straight line, we certainly remain bullish on the Indian market,” he added.
The company’s consolidated unit case volume grew 2 per cent.
“Developed markets were even, while developing and emerging markets grew mid-single digits, driven by growth in India, Brazil and the Philippines,” it said in an earnings release.
Meanwhile, in the Asia Pacific region, unit case volume grew 3 per cent, driven by growth in sparkling flavours and trademark Coca-Cola, with growth led by India and the Philippines, the Atlanta-based fizzy drinks major said.
Rival PepsiCo had also witnessed high-single-digit growth in India in the second quarter ended June 15.
First Published: Jul 23 2024 | 8:18 PM IST
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