Grasim Industries has reported a 24 per cent increase in net profit at Rs 130.49 crore (Rs 1.3 billion) for the quarter ended June 30, 2003 when compared with Rs 105.47 crore (Rs 1.05 billion) in Q1FY03.

Total income has increased to Rs 1,195.73 crore (Rs 11.96 billion) from Rs 1,144.78 crore (Rs 11.45 billion) in the corresponding period of the last fiscal, according to a release issued to the Bombay Stock Exchange on Saturday.