PI Industries rallies 9% on strong Q2 results

The management said the outlook for H2FY20 continues to be healthy on account of sustained introduction of high-potential brands targeting a variety of crops and regions.

Shares of PI Industries rallied 9 per cent to Rs 1,449 on the BSE on Thursday after the company reported strong earnings in the September quarter and expected a healthy second half of the financial year 2019-20 (FY20). The stock surpassed its previous high of Rs 1,353 touched on October 14, 2019.

The agrochemicals company posted a 30 per cent year on year (YoY) jump in net profit at Rs 123 crore, on the back of strong revenue growth during Q2FY20. It had clocked a profit of Rs 94 crore in the year ago quarter.

Revenue in the