Shares of Reliance Industries climbed as much as 5% in early trade on Friday, after the country's most valuable company topped quarterly profit estimates on strong demand in its retail and telecom units.

The net profit for India’s largest company by market value rose 12% quarter-on-quarter to Rs 21,804 crore in the third quarter ended Dec. 31, 2024, according to their exchange filing. The profit number compares with the Rs 18,793-crore consensus analysts' estimate tracked by Bloomberg.

Reliance Industries on Thursday reported a better-than-expected third-quarter profit, helped by strong performance across its energy, retail and digital services segments.