Eveready Industries India Ltd is eyeing to strengthen its products range with the intention to lessen dependency on batteries.

Mr. Deepak Khaitan, vice chairman and managing director of Eveready Industries, stated, "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."

Eveready is considering alternatives of re-entering the branded tea market via a sourcing agreement with McLeod Russel India Ltd and rolling out foreign fast moving consumer durable brands in the Indian market.

Eveready Industries India announced a slight fall in net profit for the three month period ended June 30, mainly because of a one-time gain in the year-ago quarter.

Eveready registered a fall of 5.55%in its net profit at Rs 151.5 million during the period under review.

Chairman Deepak Khaitan said, "Last year, in the corresponding quarter, we made a one-time profit of 39 million rupees from exceptional items, this impacted our net profits during the April-June quarter."

On Friday, the company's stock closed at Rs 72.60, down 1.6%, on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 6.33 and 11.47 respectively.

The share price has seen a 52-week high of Rs 76.50 and a low of Rs 43.45 on BSE.