Shares of Reliance Industries rose over 4 per cent on Bombay Stock Exchange (BSE) after the company reported a better-than-expected 12.5 per cent rise in consolidated net profit at Rs 6,720 crore for the quarter ended September on the back of higher refining margin.
The company had clocked profit of Rs 5,972 crore in the year-ago quarter. The consolidated sales, however, declined 33.8 per cent year-on-year to Rs 75,117 crore from Rs 1,13,396 crore in the September 2014 quarter.
Following the development, shares of company gained 4.58 per cent in intra-day trade to Rs 954 apiece on the BSE.
Shares of the company surged 4.60 per cent to Rs 954.15 a piece on National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 27,262.65, up 48.05 points, or 0.18 per cent at 11.20 hours.
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