Calcutta, April 23: Balmer Lawrie, a PSU engaged in multiple activities, will exit the tea business.
The Calcutta-based firm is involved in the packaging and marketing of tea. It does not own any garden.
Managing director S.K. Mukherjee said the company had decided to quit the business by the end of this fiscal.
We are a marginal player in this field. Hence, there is no point going with it, he said.
Tea contributes around Rs 6-7 crore to the companys Rs 1,500-crore revenue.
Balmer Lawrie has been gradually bringing down its exposure to tea. It recently sold off its blending and packaging unit in the US which supplied to the Harrods. At present, it sells tea to the famous London department store through a supplier.