Reliance Industries: Shares Surge After Profit Reports

Reliance Industries Ltd's shares climbed nearly 5% following a reported 7.4% rise in net profit for the December quarter. The boost was driven by rebounds in retail, increased telecom earnings, and steady oil and petrochemical performance. Revenue rose by 7.7%, paralleled by a rise in finance costs.

Shares of Reliance Industries Ltd surged almost 5% on Friday, following the company's report of a 7.4% increase in net profit for the December quarter. The stock climbed to Rs 1,325.10 on the BSE, marking the highest gain among BSE Sensex components.

The surge at the NSE was similarly significant, with shares rising to Rs 1,326 following the company's announcement on Thursday. Key areas driving profit included a rebound in retail and heightened telecom earnings from increased tariffs, alongside steady performance in its oil and petrochemicals sector.

Reliance's consolidated net profit reached Rs 18,540 crore, reflecting growth from Rs 17,265 crore a year previous, and an uptick from the last quarter's Rs 16,563 crore. Despite a rise in finance costs owed to higher debt, the firm's revenue increased 7.7% year-on-year, totaling Rs 2.67 lakh crore.

(With inputs from agencies.)