Pernod Ricard sales rise 4% in Indian market in first half of FY24

economictimes.indiatimes.com:

Pernod Ricard has reported a 4 per growth in sales in the Indian market during the first half of the current financial year. The company, which follows July to June fiscal year, has witnessed a «strong market demand for spirits» in India, according to the latest earnings statement from Pernod Ricard.
Moreover, a «strong growth» is expected in the second half (January to June 24) from India, which is the second largest market globally for Pernod Ricard after the US.
Its international brands Jameson, Absolut and The Glenlivet reported a «very strong growth» in the Indian market during the period, the company said.

Besides, its Indian whisky portfolio Seagram's which includes IMFL (Indian-made foreign liquor) brands such as Blenders Pride, Imperial Blue and Royal Stag also reported over 4 per cent growth in sales, Pernod Ricard added.
The company had an «acceleration in Q2 net sales against easing comparables», according to the earnings statement.
Globally in the first half of FY24, Pernod Ricard's sales at 6.59 billion euros declined 7 per cent. Its organic sales were down 3 per cent.
The India market contributed 11 per cent of the global net sales of Pernod Ricard in the first half of FY24, becoming the second largest contributor after the US which contributed 19 per cent.
Pernod Ricard's premium portfolio was driving high-single-digit pricing in all regions, which was offset by lower volumes and an adverse market mix.
Pernod Ricard's global portfolio comprises over 200 premium brands, including 100 Pipers,