Pernod Ricard India sales rise 19% in September quarter
In short
Pernod Ricard said India sales grew 19% in the September quarter.
The company also said its planned IPO in India is still under discussion and needs board approval. The report says demand and premium products helped sales, but the IPO timing is still unknown.
What the reporting says
Pernod Ricard reported 19% sales growth in India for the September quarter, while its proposed IPO remains under discussion and awaits board approval. The reporting says the growth was driven by strong demand and continuing premiumisation in India, its second-largest market after the US. What remains unknown is the IPO timetable and whether board approval will be granted.
Why it matters
Pernod Ricard reported 19% sales growth in India for the September quarter, and its planned IPO in the country is still awaiting board approval. The sales gain matters because India is its second-largest market after the US and was described as benefiting from strong demand and premiumisation. The key unknown is when, or if, the IPO will proceed.