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PepsiCo Registered Double Digit Revenue Growth In India Last Year

PepsiCo’s operating profit decreased 148 per cent in Q4 in Africa, Middle East and South Asia

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PepsiCo on Thursday said that it had posted double-digit organic revenue growth in 2022 from its Indian unit. 

In its earnings report for the quarter, the company said that it had gained market share in India in  beverage and savory snack markets.

PepsiCo’s operating profit decreased 148 per cent in Q4 in Africa, Middle East and South Asia. This primarily reflected a 105-percentage-point impact of impairment and other charges associated with the company’s decision to sell or discontinue certain non-strategic brands and an investment (brand portfolio impairment charges) and a 21-percentage-point impact of impairment charges 3 primarily related to certain juice brands from the Pioneer Food Group Ltd. (Pioneer Foods) acquisition (other impairment charges). 

The company’s operating profit performance was also negatively impacted by a 167-percentage-point impact of higher commodity costs, primarily grains, cooking oil and packaging materials, certain operating cost increases and higher advertising and marketing expenses, partially offset by net revenue growth and productivity savings. 

“Unfavorable foreign exchange negatively impacted operating profit performance by 15 percentage points,” the company said in its earnings statement.

Meanwhile, PepsiCo’s organic revenue growth was at 14.6 per cent in Q4 globally.

“We are pleased with our results for the fourth quarter and the full year as our business remained resilient and delivered another strong year of growth. Our results demonstrate that the investments we have made in our people, brands, portfolio, value chain, and go-to-market systems are working,” said Chairman and CEO Ramon Laguarta.

The company announced a 10 per cent increase in its annualized dividend to USD 5.06 per share from USD 4.60 per share, effective with the dividend expected to be paid in June 2023.

For 2023, PepsiCo expects a 6 per cent increase in organic revenue.

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