Eveready plans to expand product portfolio

Kolkata, July 30 (IANS) Eveready Industries India Ltd is planning to expand its products portfolio to reduce dependency on batteries, a company official said here Friday.

‘We need to expand our portfolio to bring in volumes and improve profitability as some of the new businesses we ventured into are not giving us the desired margins,’ Deepak Khaitan, vice chairman and managing director of Eveready Industries, told reporters at a press meet.

The company is weighing options of re-entering the branded tea market through a sourcing pact with group company McLeod Russel India Ltd and launching foreign fast moving consumer durable brands in India, he said.

Eveready Friday reported a 5 percent drop in April-June profit to Rs.15.15 crore from Rs.16.04 crore year.

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