The company had clocked a net profit of Rs 80.54 crore in the same period last year, it said in a regulatory filing.
Net income increased to Rs 738.13 crore during October- December quarter of 2017-18, from Rs 662.18 crore in the same period last year.
However, the company expenses remained higher at Rs 633.17 crore against Rs 552.86 crore in the year-ago period.
The Ahmedabad-based firm is engaged in inorganic chemcials and home textiles.
Shares of the company fell 3.20 per cent to Rs 313.20 apiece on BSE.
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