(Bloomberg) -- Reliance Industries Ltd., India’s biggest company by market value, posted a better-than-expected quarterly profit, on the back of a one-off gain from the sale of its U.S. shale business and as festive season demand at home boosted its consumer-facing businesses.

Net income at the oil-to-retail conglomerate, led by Asia’s richest person Mukesh Ambani, rose 42% to 185.5 billion rupees ($2.5 billion) in the three months ended Dec. 31, according to an exchange filing Friday. That compares with the average 152.6 billion rupee profit estimated by a Bloomberg survey of analysts. It recorded an exceptional gain of 28.4 billion rupees.

Revenue rose 54% to 1.91 trillion rupees compared to the same period last year, beating consensus. Total costs jumped 53% to 1.73 trillion rupees.

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