Mondelez India Sees Strong Volume Growth In March Quarter On Higher Distribution Reach
Mondelez India reported strong volume and revenue growth for the quarter ended March as the chocolates and snacks major widened its distribution network.
“We increased distribution across the country [India] and coupled that with improved in-store execution,” Dirk Van de Put, chief executive officer of Mondelez International told analysts in a conference call. That helped the maker of Oreo cookies and Dairy Milk chocolates deliver its third straight quarter of double-digit revenue growth.
Mondelez International saw its emerging market revenue rise by 7.6 percent to $2,584 million in the quarter ended March.
The company said the launch of new products like Cadbury 5Star and Lickables helped it gain market share. Mondelez is India’s largest chocolate maker with two-thirds of the roughly Rs 8,500-crore market under its belt.
In the biscuit segment, Mondelez witnessed strong growth led by Oreo. The chocolate major also has Cadbury Bournvita as part of its offerings in the biscuit category in India.