Driven by emerging markets,including Russia,China and India,global beverages firm Coca-Cola today reported 17.65 per cent jump in its net income to USD 1.8 billion in the first quarter ended April 1,2011 as compared to the same period last year. During the period,the company's net revenue grew by 40 per cent to USD 10.5 billion from USD 7.5 billion posted in the corresponding quarter last year. The company,which sells cola brands like 'Coca-Cola','Fanta','Thums Up' and 'Sprite',said it has witnessed a worldwide volume growth of 6 per cent during the quarter. The 'Coca-Cola' brand lead the growth in sparkling beverages segment with a worldwide volume growth of 3 per cent in the quarter driven by a wide array of global markets,the company said in statement. The brand saw 24 per cent growth in Russia,20 per cent in Turkey,14 per cent in China and 9 per cent in India,it added. This was the 19th consecutive quarter that the Coca-Cola brand has witnessed volume growth in the Indian market,although the rate of growth was 29 per cent in the year-ago period,the company said. Commenting on the results,The Coca-Cola Company Chairman and Chief Executive Officer Muhtar Kent said: "Despite ongoing global geopolitical challenges,we once again delivered consistent,quality growth across all five of our geographic operating groups,with broad worldwide share gains across beverage categories". Besides,still beverages witnessed a volume growth of 11 per cent in the quarter,led by growth across the portfolio,including juices and juice drinks,ready-to-drink teas,sports drinks and water brands. "The growing value of our brands,our consistent quality operating results and our solid financial performance underscore how our system is steadily and strategically advancing its momentum around the world," Kent said.
