Dutch brewer Heineken reported Wednesday that its third-quarter revenue was €9.07 billion ($9.79 billion), down 5.5% from last year's €9.6 billion. Organic net revenues grew 3.5% year-on-year, however beer volumes rose only 0.

In India, organic beer volume grew by a mid-single-digit, with significant contributions from Kingfisher Ultra, the company said.

Heineken NV reported worse-than-expected beer volumes due to declines in the Americas and Asia Pacific as consumers failed to ramp up spending.