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 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.

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By Sethuraman N R (Reuters) -Shares of Reliance Industries rose nearly 5% on Friday and were set for their best week in six months, as the company beat quarterly profit estimates on a boost from its retail business,