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.

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

Revenue rose 7.6% to 417.64 billion rupees ($4.83 billion) in the October-December period, surpassing average analysts' estimate of 412.78 billion rupees, according to data compiled by LSEG. Infosys also raised its full-year revenue growth forecast to 4.

Reliance Industries reported a better-than-expected third-quarter profit on Thursday, helped by strong demand in its retail segment, and as higher telecom tariffs and a rise in 5G subscribers boosted the telecom unit.