Reliance Industries beats Q3 estimates to record ₹18,540 cr profit

Mukesh Ambani-led Reliance Industries recorded a net profit of ₹18,540 crore in Q3, surpassing analysts' expectations. The figure was over 7% higher than ₹17,265 crore profit in the year-ago period. The conglomerate's revenue for the quarter also jumped 7% YoY to ₹2.43 lakh crore driven by strong demand seen by its retail arm and tariff hikes benefitting its telecom unit.