Reliance Profit Jumps 78%, Beats Estimate on One-Time Gain

Reliance Industries Ltd.’s quarterly profit beat estimates as the billionaire Mukesh Ambani-led conglomerate benefited from a massive one-time gain after divesting its stake in India’s biggest paints maker.

Net income rose 78% to 269.9 billion rupees ($3.1 billion) in the three months ended June 30, according to an exchange filing Friday. That surpassed the 200.59 billion rupees average of analyst estimates compiled by Bloomberg.