Coca-Cola India FY24 profit falls 42% to ₹420.29 crore; revenue rises 4% to ₹4,713.38 crore

Beverages major Coca-Cola India's consolidated profit fell 41.82% to ₹420.29 crore in FY24 while its revenue rose 4.24% to ₹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% to ₹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 ₹722.44 crore and revenue from operations at ₹4,521.31 crore.

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

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

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

Coca-Cola India's total expenses in FY24 was up 16.27% to ₹4,210.11 crore.

The company, which operates with power brands in Indian markets, including Coca-Cola, Thumbs 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.