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.

Reliance Jio reported a Q3 net profit of ₹6,477 crore, up 24.4% YoY. Revenue increased 15.5% to ₹29,307 crore, with an EBITDA of ₹15,478 crore. The subscriber base reached 482.1 million, and ARPU rose to ₹203.

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.

Reliance Industries Ltd on Thursday reported a 7.4 per cent rise in its December quarter net profit as retail business rebounded, telecom earnings surged on higher tariffs and mainstay oil and petrochemicals business delivered consistent performance.