Textile giant Indian Rayon & Industries Ltd on Wednesday blamed a strike at two plants for a 72 per cent fall in third quarter net profit to Rs 3.6 crore from the year-ago period.

Industrial action at the Veraval rayon plant and Rishra textile plant had a major impact on revenues and earnings, said the firm as it reported a two per cent fall in third quarter turnover to Rs 372.7 crore, from Rs 380.3 crore in 2000.