PI Industries’ share price grew more than 3% on February 15, a day after the company reported a 58.04% upsurge in net profit at Rs 351.80 crore for the December quarter of FY23.

The company’s focus on groundbreaking solutions and technologies for crop shields and plant nutrients appears to be reimbursing off, analysts held.

PI Industries’ sales were up 18.94% at Rs 1,613.20 crore in the December quarter. It had stated sales of Rs 1,356.30 in the year-ago quarter.

At 10:21 am, PI Industries was narrating at Rs 3,142.00, up Rs 107.35, or 3.54%, on BSE. It was trading with volumes of 23,120 shares, associated with its five-day typical of 4,593 shares, an increase of 403.42%.

PI Industries is an agricultural solutions company that delivers innovative answers and technologies for crop protection and plant nutrients. The company functions in four key business sections—agro-inputs, fine chemicals, custom mixture, and Biotechnology.

The company has a robust presence in the Indian agrochemical business, with a significant market share in herbicides, insecticides, and fungicides.

It has been increasing its global footmark and has an occurrence in more than 40 nations, counting the United States and Japan, the company assumed.