In a statement, the company said that it plans to divest its animal feeds and dairy businesses. During the first nine months of 1998, HLL has posted a gross turnover of Rs 7,679 crore, an increase of 23.6 per cent over Rs 6,213 crore during the corresponding period in 1997. Company's export turnover (including subsidiaries) is Rs 1,350 crore, a growth of 60.7 per cent over Rs 840 crore in 1997.

HLL's results for the third quarter incorporate the results of the erstwhile Pond's (India) Ltd (PIL), amalgamated with HLL effective January 1, 1998. The amalgamation has boosted the current year's figures.

HLL Chairman, K B Dadiseth said that consequent to the amalgamation of PIL, the figures of the currentquarter and the period of nine months ended September 30, 1998, are not strictly comparable to those of the previous period.

Dadiseth said the annualised earnings per share grew by 30 per cent during the quarter and by 26.9 per cent during the period January-September 1998.

``We have continued our focus on volume growth and market development through consumer-relevant innovations and as a result, market shares increased in all key categories,'' the chairman said.

He said barring dairy business, animal feeds and specialty chemicals businesses have recorded good growth and profitability. ``Subject to commercially attractive terms, HLL will seek to divest the animal feeds and dairy businesses,'' he said.

The company plans to create one or more joint ventures for the specialty chemicals business, with international know-how and technology providers.

``To provide greater focus to categories where it has strength and competence, the company has reviewed its existing portfolio of businesses,'' hesaid.

HLL said volume growth in the year-to-date has been about 10 per cent. Personal products (20 per cent), culinary products (17 per cent), branded staples (71 per cent) and export tea (52 per cent), led the growth.