abur India is set to invest ₹550 crore to build additional capacity, and augment its healthcare, home and personal care portfolio, its chief executive officer, Mohit Malhotra, said in post-earnings call on Friday.
The packaged consumer goods company reported a 34% increase in its fourth quarter net profit to ₹377.29 crore from a year earlier.The company had posted a net profit of ₹281.60 crore in the year-ago period.
For the quarter ended March 31, consolidated revenue from operations stood at ₹2,337 crore, an increase of 24.5% from the ₹1,865.36 crore reported by the company last year.
The firm has purchased land in Madhya Pradesh as part of its efforts to enhance capacity. “We’ll invest ₹550 crore in the next four to five years to set up a greenfield facility in central India to cater to our east, south, west, and also the north region. We’ve already taken a 50-acre land near Indore to spruce up and augment our capacities essentially for the healthcare business... That is what we are doing to augment capacity in the long term because penetration of healthcare is going up in the country,” Malhotra said.