Reliance Industries , India's most valuable company, reported a 9.3% rise in third-quarter profit on Friday.

The Mukesh Ambani-led conglomerate said its consolidated profit rose to 172.65 billion rupees ($2.08 billion) in the quarter ended Dec. 31, from 157.92 billion rupees a year earlier.

($1 = 83.0410 Indian rupees)

(Reporting by Sethuraman NR in Bengaluru; Editing by Savio D'Souza)