Hindustan Unilever to spin off FMCG exports business

Hindustan Unilever to spin off FMCG exports business

Mumbai: Hindustan Unilever , a unit of Anglo-Dutch Unilever Plc, said its board had approved a proposal to spin off its fast moving consumer goods (FMCG) exports business.

India’s largest household products and consumer goods maker said on Monday the spinoff included specific exports-related manufacturing units of the company into its wholly owned subsidiary Unilever India Exports Ltd, with effect from 1 April.

The company posted net profit of 569 crore ($127.2 million) for the fourth quarter ended March, slightly down from 581 crore a year ago.

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