MUMBAI | NEW DELHI: PepsiCo's India lost its fizz even as its largest rival Coca-Cola posted double-digit growth amid health conscious consumers cutting down on sugary aerated drinks. PepsiCo India Holdings saw revenue grow 0.2% during year to March 2017 to Rs 6,540 crore while Hindustan Coca-Cola Beverages, which account for two-thirds of Coca-Cola's revenue, posted 11% growth in revenues at Rs 9,472 crore, as per latest filing with the Registrar of Companies.
An HCCB spokespers ..
"This was reflected in FY 2016-17 performance that saw us progressing ahead with strong double digit growth on our core brands like Tropicana and Lay's. While the end of H2 FY 2016-17 growth was impacted on account of some macro head winds, business momentum has been recovering over the last 3 quarters," said a PepsiCo India spokesperson.
Growth has slowed in the Rs 22,000-crore carbonated soft drinks market as consumers switch to healthier beverages such as juices, energy drinks ..
For instance, Pepsi lowered its investments on commoditised, low margin segments including low juice content segment. PepsiCo's recent launches include 7Up with natural sweetener stevia, Pepsi Black with zero sugar, hydration drink Revive and several local and international flavours in juices.
Earlier this year, the Indian unit of Coca-Cola Company said it will invest around Rs 11,000 crore in the next five years to create an agricultural eco-system, and build food-processing.