Reliance Industries beat expectations for third-quarter profit on Thursday, as its retail business benefited from strong festive demand, while its telecom unit was bolstered by higher cellular tariffs and a rise in 5G subscribers.

The company's revenue from operations stood at Rs 79,595 crore, up 7.0 per cent year-on-year, while its gross revenue from operations increased by 8.8 per cent to Rs 90,333 crore

The company said that gross revenue stood at Rs 90,333 crore, up 8.8 per cent from Rs 83,063 crore in the corresponding quarter last year.

Reliance Industries owned Reliance Retail Ventures registered a 10 per cent increase in profit after tax with ₹3,458 crore

Reliance Industries reported a better-than-expected third-quarter profit on Thursday, helped by strong demand in its retail segment, and as higher telecom tariffs and a rise in 5G subscribers boosted the telecom unit.

Reliance Industries Ltd on Thursday reported a 7.4 per cent rise in its December quarter net profit as retail business rebounded, telecom earnings surged on higher tariffs and mainstay oil and petrochemicals business delivered consistent performance.

Reliance Industries Q3 net profit rises 7.3%, driven by retail and Jio; EBITDA up 7.8%, debt at ₹3.5 lakh crore.