PepsiCo net dips 3.4%, but India arm shines

ATLANTA: PepsiCo Inc, the world’s largest snack-food maker, posted a 3.4% drop in second-quarter profit on costs to integrate its largest bottlers. Net income fell to $1.6 billion, or 98 cents a share, PepsiCo said in a statement. That included $155 million in expenses tied to the bottler purchases. Total sales rose 40% to $14.8 billion, beating analysts’ estimates. The beverage maker, led by chief executive officer Indra Nooyi, counts Pepsi, Mountain Dew, Gatorade and the Tropicana line of fruit-flavored juices among its brands. PepsiCo declined 40 cents to $62.05 on Monday in NYSE composite trading.

NEW DELHI: PepsiCo posted double-digit volumes growth in India, Pakistan and Egypt for the April-June quarter, the New York-based company said in a statement on Tuesday. “The AMEA (Asia, Middle East, Africa) region made significant investments to expand its footprint in key growth markets such as China and India. A strong productivity agenda and tight cost controls helped to offset cost pressures,” PepsiCo said in a statement. PepsiCo chairman and CEO Indra Nooyi said in a statement: “We continue to make investments in near- and long-term opportunities across both developed and emerging markets.”

In snacks too, India, Middle East and China posted double-digit growth riding on value, innovation and expanding its footprint. “India had its highest volume month ever in May,” the company said.