Reliance Industries surges on earnings beat

MUMBAI Mon Jan 21, 2013 10:07am IST

A woman walks past a poster of Reliance Industries installed outside the venue of the company's annual general meeting in Mumbai June 7, 2012. REUTERS/Vivek Prakash/Files

A woman walks past a poster of Reliance Industries installed outside the venue of the company's annual general meeting in Mumbai June 7, 2012.

Credit: Reuters/Vivek Prakash/Files

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MUMBAI (Reuters) - Shares in Reliance Industries rose as much as 6 percent in trade, after posting a better-than-expected 24 percent jump in third-quarter net profit. The shares were trading 3.8 percent higher at 10:05 a.m.

The company on Friday posted its first profit increase after four quarters of declining returns, buoyed by improving margins in its core oil refining business.

(Reporting by Abhishek Vishnoi; Editing by Anand Basu)

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