India's third biggest cement maker, Grasim Industries, said on Tuesday its January-March net profit, after taking into account extraordinary expenses, was Rs 4.9 million.

It posted a net profit of Rs 792.3 million in the corresponding quarter a year earlier.

The company, which also makes viscose staple fibre, said net sales rose to Rs 12.11 billion from Rs 11.11

It said extraordinary expenses in the quarter included an expense of Rs 2.09 billion.

A Reuters survey released earlier this month forecast the company would post a net profit -- not taking into account extraordinary expenses -- of Rs 1.29 billion, up 64 per cent from a year earlier.