Soft drink maker Coca-Cola reported a 1% decline in volumes in the third quarter ended September 27 (Q3, FY24-25), with a slow start in July. In India, the company flagged factors such as heavy monsoons in several states for the slowdown. Coca-Cola, however, remains optimistic about its long-term growth, with continued investment in brands and operational efficiency.
Speaking during the quarterly earnings call with investors, James Quincey, chief executive officer, Coca Cola Company, said India had a particularly heavy monsoon in several states, which impacted volume growth in the country.
Quincey added on an optimistic note. “Actually, by the way, heavy monsoons tend to be a good predictor of agricultural yield, which would be then better next year. That’s clearly going to be a temporary factor and we’d be looking for India to return to growth.”
In the Asia Pacific region, unit case volume declined 2% as growth in Coca-Cola was more than offset by declines in water, sports, coffee and tea, and juice, value-added dairy and plant-based beverages. Price/mix grew 7%, driven by favorable mix and pricing actions in the marketplace. Concentrate sales were 2 points behind unit case volume, primarily due to the timing of concentrate shipments.
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Naresh Khanna – 10 February 2025
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