New Delhi, Jan. 28: The third-quarter net profit of paints and chemicals major ICI India Limited plunged 79.7 per cent to Rs 12.6 crore from Rs 61.5 crore in the corresponding period last year.

During the quarter, total income rose by 10.6 per cent to Rs 220 crore from Rs 199 crore in the year-ago period.

For the nine-month period ended December 31, 2004, net profit was Rs 48.1 crore as against Rs 75.97 crore in the corresponding period of last year.

During the reporting quarter, chemicals sales grew by 14 per cent to Rs 85 crore on the back of good growth in adhesives sales. In the paints segment, sales grew to Rs 165 crore.