Eveready Industries India today said it is looking at new FMCG products and might exit the insect repellent business.

"We are scouting at new products in the FMCG segment and primary level talks have been carried out for brands in the UK. If it materialises, the product will be manufactured in India and will be a product for masses," Eveready Vice-Chairman Deepak Khaitan said here.

It would be a new product in the portfolio. The company produces packet tea, general lighting, insect repellents beside batteries and flashlights.

He said the new businesses were not doing up to the expectations and the company might exit the insect repellent business.

"If the coil business does not garner Rs 50 crore we will exit. The current business level is Rs 25 crore," he said.

Speaking about the Q1 results, he said, "The profit is lower than the corresponding period last year due to mark-to-market loss in commodity hedging and an exceptional income. Actually our EBITA margins are better and reached 15 per cent and the Q2 results will be better."

Khaitan announced the Q1 results that witnessed a drop of six per cent to Rs 15.15 crore over the corresponding period last year.