India's Reliance Industries' shares gain 2.38 pct at pre-open on better earnings

MUMBAI, July 21 Sun Jul 20, 2014 11:43pm EDT

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MUMBAI, July 21 (Reuters) - Shares in India's Reliance Industries Ltd rose 2.38 percent to 1,000 rupees at pre-open, after its June-quarter earnings beat estimates.

The energy conglomerate on Saturday posted a net profit of 59.57 billion rupees ($988 million) in the quarter ended June, rising from 52.37 billion rupees a year earlier. Revenue rose 7.2 percent to 1.08 trillion rupees.

Analysts on average expected it to post a profit of 56.14 billion rupees, according to Thomson Reuters data. (Reporting by Indulal PM; Editing by Sunil Nair)

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