Reliance Industries surge on earnings beat

Last Updated: Mon, Jan 21, 2013 04:40 hrs

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)

More from Sify: