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.

Reliance Industries Ltd., controlled by billionaire Mukesh Ambani, posted a slightly better-than-expected quarterly profit, as gains from higher telecom tariffs offset the weakness in its petrochemical business.

Reliance Retail Venture Ltd (RRVL) -- the retail arm of billionaire Mukesh Ambani-led Reliance Industries -- reported an 8.75 per cent increase in gross revenue to Rs 90,333 crore while its profit after tax (PAT) rose 10 per cent to Rs 3,

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

RIL's Q3 consolidated revenue rose 7.7 percent to Rs 2.67 lakh crore from a year earlier, while EBITDA climbed 7.8 percent to Rs 48,003 crore.

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

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.