The company has reported a net profit of Rs 39.82 crore during the corresponding period last year.

The board of directors has recommened the payment of a second term dividend of Rs 5 per share taking the total to Rs 10 for the year.

The net profit of the company has grown by 12.4 per cent during the nine months ended September 1999.

The company's consumer business continues to outperform the market with undelying volume growing in excess of 10 per cent during the first three of the year, said a press release issued by the company. The volume growth during the first nine moinths in the industrial business has been 16 per cent and commercial business has doubled through from a small base. The company's focus is on the premium end of these markets and obtaining improved margins and through offering integrated packages comprising products and services. New product launches are being acclerated and will help improve the product mix and profitability. Also the company continue to explore opportunities to enter new segment to further consolidate its position.

The recent rise in crude oil prices has adversely affected the cost of base and that of packaging materials. The company's premium position in the market has enabled it to increase product prices without impacting market share and having only a small impact of margins.