PepsiCo announces quarterly results, registers double-digit growth in India

PepsiCo, global food and beverages major, on Tuesday said its Indian unit delivered a "double-digit organic revenue growth" in the first quarter of 2023. The company has reported a double-digit growth in the beverage unit volume in the Indian market, PepsiCo said in its global earnings statement.

"Each of our international divisions reported strong organic revenue growth, led by AMESA, which delivered double-digit organic revenue growth in both beverages and convenient foods during the quarter with India, Egypt, Saudi Arabia and Pakistan each delivering double-digit organic revenue growth," the company said in the statement.

PepsiCo owns popular brands such as Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew and Quaker. PepsiCo's net revenue for the first quarter was at $17.85 billion, up 10.2%.

“We are very pleased with our performance and business momentum as our categories and geographies remained resilient during the first quarter. Given our strong start to the year, we now expect our full-year 2023 organic revenue to increase 8% (previously 6%) and core constant currency EPS to increase 9% (previously 8% percent),” said Chairman and CEO Ramon Laguarta.