The group reported earnings of 34 cents per share. For the nine months to December earnings were 1.07 rupees per share. Vallibel One stock closed at 16.80 rupees down 10 cents Monday.
Group revenues rose 7.5 percent to 8.8 billion rupees and expenses rose at a slower 5.3 percent to 6.0 billion rupees allowing gross profits to grow at a faster 12 percent to 2.7 billion rupees.
Vallibel One owns 51 percent of Royal Ceramics a tile and sanitary ware group, 64 percent in LF Finance, a registered finance company, 61 percent in Delmege which has interests in paints and consumer goods and 100 percent of Greener Water Ltd, which was expected to build a hotel.
Other operating income also rose to 126 million rupees from 74 million rupees a year earlier.
But the group had to provide 225 million rupees for write downs of loans or other assets.
Finance costs also rose to 280 million rupees in the December 2012 quarter from 188 million rupees a year earlier.