Reliance Industries gains 2% as Q3 profit beats estimate

The stock rose 2 per cent to Rs 1,157 on the BSE after the company reported a better-than-expected consolidated net profit of Rs 10,251 crore in Q3FY19.

Shares of Reliance Industries gained 2 per cent to Rs 1,157 apieceon the BSE after the company reported a better-than-expected consolidated net profit of Rs 10,251 crore in October-December quarter (Q3FY19). RIL became the first Indian private sector company to cross Rs 10,000 crore quarterly profits milestone. The company had a profit of Rs 9,420 crore in the year-ago quarter.

Consolidated revenues came in at Rs 1,71,336 crore, a growth of 55.9 per cent as compared to Rs 109,905 crore in the corresponding period of the previous year.

Analysts on an average had expected a profit of Rs 9,037 crore on