Shares of Reliance Industries climbed as much as 5% in early trade on Friday, after the country's most valuable company topped quarterly profit estimates on strong demand in its retail and telecom units.

Reliance Industries Ltd on Thursday (January 16) reported a 7.4% rise in its December quarter net profit, as its retail business rebounded and telecom earnings rose.

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 on Thursday reported a better-than-expected third-quarter profit, helped by strong performance across its energy, retail and digital services segments.

Reliance Jio reported a Q3 net profit of ₹6,477 crore, up 24.4% YoY. Revenue increased 15.5% to ₹29,307 crore, with an EBITDA of ₹15,478 crore. The subscriber base reached 482.1 million, and ARPU rose to ₹203.