In April, Business Standard had reported that the beverage major is “bullish on the long-term growth in India” and sees a strong year ahead for the country.

In January, HCCB handed over control of its operations in – Rajasthan, Bihar, West Bengal, and the northeastern region – to local business partners. According to Juan Pablo Rodriguez, chief executive of HCCB India, the move was aimed at bringing “scale and contiguity to the business”.

HCCB operates 16 factories spread in India. In the financial year 2023 (FY23), HCCB saw a significant 40 per cent rise in revenue, reaching Rs 12,840 crore.

In the quarter ending March 29, 2024, the company reported net gains of $599 million and $293 million by refranchising its bottling operations in the Philippines and some parts of India, respectively. Unit-based volumes for the Atlanta-based company for this quarter grew 1 per cent.

Coca Cola India, which began the year on a soft start, said its sales have picked momentum as the demand across the beverage market has shot up. The company expects to remain bullish in our sparkling, hydration, and juice segments.

According to the market research company, Kantar Worldpanel, carbonated beverages witnessed a 19 per cent year-on-year increase in volume growth in April 2024.

First Published: Jun 18 2024 | 9:53 AM IST