The net profit of Hindustan Coca-Cola Beverages Ltd, the bottling arm of Coca-Cola in India, soared three-fold to Rs 2,808.31 crore in FY24, the company said in its filing to the RoC (Registrar of Companies).
Its revenue from operations also went up 10.10 per cent to Rs 14,021.54 crore during the fiscal ended March 2024, according to financial data accessed through the business intelligence platform Tofler.
In FY23, Hindustan Coca-Cola Beverages Ltd (HCCBL), an unlisted entity, had reported a net profit of Rs 812.5 crore, while its revenue from operations stood at Rs 12,735.12 crore.
The total income of HCCBL, which operates 16 factories across India, was up 10.77 per cent to Rs 14,236.18 crore in FY24.
In FY24, total tax expense by HCCBL was up over four-fold to Rs 910.07 crore. This was at Rs 204.32 crore a year ago.
HCCBL’s profit before tax was at Rs 3,718.38 crore, up three-fold year on year.
Total expenses of HCCBL were at Rs 13,044.50 crore in FY24, up 10.48 per cent.
HCCBL manufactures and sells 60 products across seven categories. Its products include Coca-Cola, Thums Up, Sprite, Minute Maid, Maaza, SmartWater, Kinley, Limca, and Fanta, among others.
In FY24, HCCBL’s expenses on ‘advertising and sales promotion’ was up 69.21 per cent to Rs 108.11 crore. Its ‘inventory losses and leakages’ were also up 25.4 per cent to Rs 94.07 crore.
Its parent company is divesting the bottling operations and working on an asset-light strategy. In India, the company had franchised its bottling operations in key markets — Rajasthan, Bihar, northeast, and parts of West Bengal — to its existing bottlers.
“During the current year (FY24) the management of the company, pursuant to Business Transfer Agreements (BTA) and Asset Transfer Agreements (ATA), divested its business undertakings pertaining to packaging, distributing and selling of non-alcoholic beverage products in certain territories on a going concern basis by way of a slump sale,” it said.
PTI
