Dravid, back in his preferred batting position at number three after opening in the first two Tests, threw his wicket away when in sight of a hundred after a reckless shot.
The former skipper had a let-off on 11 when he was dropped by Michael Clarke at first slip but batted sensibly after that, hitting 15 fours and occupying the crease for four and a half hours.
But he blew his chance of scoring a ton when he tried to smack spinner Andrew Symonds out of the ground but mistimed the shot and skied a simple catch to Ponting at mid-off.
"Obviously it's disappointing when you get out like, especially late in the day, but the shot was on," Dravid said.
India's tour of Australia: Complete Coverage