Coca-Cola India Profit Falls 42% in FY24 | Revenue Rises 4%

New Delhi, Nov 11 (PTI) Beverages major Coca-Cola India's consolidated profit fell 41.82 per cent to Rs 420.29 crore in FY24 while its revenue rose 4.24 per cent to Rs 4,713.38 crore, according to the company's filing to RoC (Registrar of Companies).

Its total income, which also includes other income, was up 4.19 per cent to Rs 4,801.84 crore during the fiscal ended March 2024, according to financial data accessed through business intelligence platform Tofler.

In FY23, Coca-Cola India Pvt Ltd, an unlisted entity, had reported a net profit of Rs 722.44 crore and revenue from operations at Rs 4,521.31 crore.

Its expenses on advertising and sales promotion were up 35.47 per cent to Rs 1,520.21 crore during the financial year under review. This was at Rs 1,122.11 crore a year ago.

Moreover, royalties paid to its US-based parent The Coca-Cola Company also went up 4.68 per cent to Rs 507.51 crore.

The total tax expense of Coca-Cola India in FY24 was down 35.34 per cent to Rs 171.42 crore. This was at Rs 265.14 crore a year earlier.

Coca-Cola India's total expenses in FY24 was up 16.27 per cent to Rs 4,210.11 crore.

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.

India is the fifth largest market for Coca-Cola.

Besides, Coca-Cola also has a bottling unit, Hindustan Coca-Cola Beverages (HCCB) Private Ltd, which operates 16 plants.