Britannia planning new mfg units overseas

Britannia Industries Ltd on Friday said it is evaluating opportunities to set up overseas manufacturing units, including in Bangladesh and other South East Asian nations.

The FMCG major is also mulling domestic expansion in the eastern part of the country, Chairman Nusli N Wadia said.

"We have already set up a plant in Nepal, and are seriously looking at Bangladesh and other South East Asian countries. We are evaluating opportunities in Africa... and plan to step up our endeavour on the international side," Nadia said at the 100th AGM of the company.

Britannia Industries exports products to 70 countries.

He said West Bengal also features as one of the locations for its new facility in the east, but firming up plans in the state depends on "the facilities Bengal gives us".

The company on Friday reported a 3.64 per cent on-year decline in consolidated net profit at Rs 248.64 crore for the quarter ended June 30.

Total income during the period under review stood at Rs 2,767.8 crore, up 7.03 per cent, as against Rs 2,585.84 crore in the year-ago quarter.