PI Industries surges 9% on strong December quarter results

The stock surged 9 per cent to Rs 914 on the BSE on Tuesday in early morning trade after the company reported strong growth of 33 per cent in net profit at Rs 107 crore in December 2018 quarter.

Shares of PI Industries surged 9 per cent to Rs 914 per share on the BSE in early trade on Tuesday, after the company reported strong growth of 33 per cent in net profit at Rs 107 crore in December 2018 quarter (Q3FY19). The agrochemicals company had a profit of Rs 81 crore in the year-ago quarter.

Revenues during the quarter under review grew 32 per cent at Rs 708 crore against Rs 538 crore in the corresponding quarter of previous fiscal.

The healthy revenue growth mainly contributed by around 40% year-on-year (YoY) growth in exports on account