Reliance Industries Ltd (RIL) on Friday reported a consolidated net profit of Rs 18,549 crore for the quarter ended December, up 33.8 percent sequentially. Quarterly revenues stood at Rs 1.85 lakh crore for the conglomerate in the October-December period, as against Rs 1.67 lakh crore in the previous quarter.

The company reported Rs 29,706 crore in earnings before interest, taxes, depreciation and ammortisation (EBITDA) for the October-December period. The company's EBITDA margin came in at 16.05 percent.

In an interview to CNBC-TV18, Deven Choksey of KRChoksey said Jio Platform and the retail businesses are claiming a higher rating. He said if these businesses contribute more than 50 percent of profits of the company then re-rating is on the cards for Reliance Industries.

Market Expert Prakash Diwan said the Q3 earnings are stellar on all counts. He said the stock has been holding its ground in a weak market and is likely to get rerated post these numbers.

Also Read: Reliance Industries Q3: Net profit at Rs 18,549 crore, beats Street estimates; Jio ARPU rises to Rs 151.6/month

Amnish Aggarwal Head of Research at Prabhudas Lilladher believes that all the expansion initiatives that the company has undertaken in telecom, technology and retail will start bearing fruit once India comes out of COVID.

Also Read: Reliance Jio Q3 results: Net profit at Rs 3,615 crore, ARPU at Rs 151.6; beats estimates

Balaji Subramanian Vice President of IIFL Securities said, "Reliance Jio's revenues are largely in-line with our expectations even though the ARPU has come in ahead of my estimate. EBITDA margin is where the positive surprise is. I was expecting EBITDA margin of 48.2 percent and they have delivered 49.2 percent. So it is a pretty decent set of numbers."

Watch video form more.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.