Reliance Industries shares gain over 3% on positive earnings

Jul 21 2014, 13:41 IST
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Shares in Reliance Industries Ltd rise, after its June-quarter earnings beat estimates. (Reuters) Shares in Reliance Industries Ltd rise, after its June-quarter earnings beat estimates. (Reuters)
SummaryReliance Industries had on Saturday posted a 13.7 per cent jump in its first quarter net profit to almost USD 1 billion.

Shares of RIL today rose over 3 per cent after the company posted a 13.7 per cent jump in its first quarter profit.

After making a positive start, shares of RIL gained 3.17 per cent to Rs 1,007.75 on the BSE.

At the NSE, it jumped 3.19 per cent to Rs 1,008.

The stock was the top gainer among the blue-chips on both Sensex and Nifty during the morning trade.

Reliance Industries had on Saturday posted a 13.7 per cent jump in its first quarter net profit to almost USD 1 billion, the highest quarterly profit by a private firm, on the back of higher refining margins, better petrochem earnings and surge in US shale gas business.

The net profit in April-June rose to Rs 5,957 crore, or Rs 20.3 per share, up 13.7 per cent from Rs 5,237 crore, or Rs 17.8 a share, in the same period a year ago.

Turnover surged 7.2 per cent to Rs 1,07,905 crore.

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