Reliance Industries shares gain over 3 pct after quarterly profit beats estimates

Written by Reuters | Mumbai | Updated: Oct 15 2013, 15:35pm hrs
Reliance industriesAnalysts say Reliance Industries logged profits due to better-than-expected margins in its petrochemical business. Reuters
Shares in India's Reliance Industries Ltd rose 3.1 percent in pre-open trading on Tuesday after its July-September operating profit beat some analysts' estimates due to better-than-expected margins in its petrochemical business.

Reliance Industries (RIL) said late on Monday operating profit in the previous quarter rose by 11 percent on a sequential basis to 78.49 billion rupees ($1.28 billion).

Reliance Industries, which operates the world's biggest oil refining complex in western India, met analysts estimates with a 1.5 percent rise in net profit to 54.9 billion rupees.

($1 = 61.4750 Indian rupees)