Beverages major Coca-Cola India’s consolidated profit rose by 57.15 per cent to Rs 722.44 crore in FY2022-23 while revenue from operations jumped 45 per cent to Rs 4,521.31 crore, according to financial data accessed by the business intelligence platform Tofler.
Its expenses on advertising and sales promotion were up 52.05 per cent to Rs 1,122.11 crore in the financial year which ended on March 31, 2023. This was at Rs 737.97 crore a year before.
The cola major logged a profit of Rs 459.69 crore for the financial year that ended on March 31, 2022, while its revenue from operations in that year had stood at Rs 3,121.29 crore.
Its other income was also up 23 per cent to Rs 87.19 crore for the financial year that ended on March 31, 2023.
Total expenses of Coca-Cola India were up 42.09 per cent to Rs 3,620.92 crore in FY23 as against Rs 2,548.19 crore of FY22.
Coca-Cola India’s total income on a consolidated basis was at Rs 4,608.51 crore, up 44.36 per cent in FY23. It was at Rs 3,192.17 crore a year before.
The company, which operates with power brands in Indian markets including – Coca-Cola, Thums Up, Limca, Sprite, Maaza and Minute Maid, is owned by Atlanta-based US beverages major The Coca-Cola Company.
When contacted, the company said:” This was driven by both volume growth and price-mix, and an overall increase in sales, primarily backed by affordable price points and demand across rural regions.” The Company strategically focused on ramping up distribution in general trade channel with a strong focus on rural markets. ”Our products are now available Now available in 4.5 million outlets up from 2.8 million outlets pre covid times,” the company stated.
The company continues to link consumption occasions with consumer passion points to build deeper brand connections and engage with fans through digital storytelling and consumer engagements like Sprite Joke in Bottle, Thums Up Stump Cam, etc.
”The Company increased advertising and marketing spending to ensure strong demand in the festive season and drive greater consumer engagement. The company has been driving the most significant marketing transformation in our history, focusing on digital-first engagement with consumers,” it said.
Last week, The Coca-Cola Company CEO James Quincy in the earning calls for the September quarter said the company had a double-digit volume and top line growth in India, which resulted in value share gains in the past three years.
India is the fifth largest market for the Coca-Cola Company.
Besides, Coca-Cola also has a bottling unit – Hindustan Coca-Cola Beverages (HCCB) Private Ltd, which operates 16 plants.
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