Grasim today reported a 29% increase in consolidated net profit at Rs 721.86 crore for the third quarter ended December 31, 2007 when compared with Rs 559.31 crore in Q3FY07.According to a release issued to the BSE today, total income increased to Rs 4,448.83 crore from Rs 3,732.99 crore in Q3FY07.The company, on a stand-alone basis, posted a net profit of Rs 553.79 crore for the quarter ended December 31, 2007 when compared with Rs 411.58 crore in Q3FY07. Total income increased from Rs 2,324.61 crore for the quarter ended December 31, 2006 to Rs 2,694.96 crore in Q3FY08.