Business News Food

Results for Coca-Cola’s first quarter: 3 billion transactions were made in India at competitive prices, increasing household penetration.

FMCG and beverage giant, Coca-Cola recorded about 3 billion transactions in India at affordable price points led by single-serve packages and at-home entry packs during Q1, the company said in its quarterly results announcement on Monday.

In addition to entry packs, the beverage retailer also leveraged targeted promotions on large packages to increase its household penetration.

Ahead of the summer season, Coca-Cola claimed that the company and its bottling partners expanded its availability by 3,00,000 stores and around 40,000 coolers in the country.

“The company grew its business in the first quarter in India by adding retailers, investing in cold-drink equipment, and offering the right products at the right price points to recruit consumers,” Coca-Cola said in its earnings statement.

AdvtThe FMCG giant saw a 10 per cent growth in unit case volume in Asia Pacific, with growth led by China, India, and Australia. However, the company said that its operating income in Asia Pacific declined 15 per cent due to high operating costs.

“We are off to a great start,” said James Quincey, chairman, and CEO, The Coca-Cola Company in an earnings call adding that while macro environment concerns remain, the company will focus on adapting to consumer needs and adding top-line growth.

Overall, the company reported a 5 per cent growth in its net revenue to USD 11 billion.



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