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 April 1.
The company posted net profit of Rs 569 crore (USD 127.2 million) for the fourth quarter ended March, slightly down from Rs 581 crore a year ago.
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