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Reliance Industries surge on earnings beat

Source : REUTERS
Last Updated: Mon, Jan 21, 2013 04:40 hrs
A woman walks past a poster of Reliance Industries installed outside the venue of the company's annual general meeting in Mumbai

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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