BASF India shares surged 9.7 per cent to Rs 271.35 on steady quarterly numbers. The company’s net profit for the June quarter rose 12 per cent year-on-year (Y-o-Y) to Rs 41 crore while net sales remained flat at Rs 38.21 crore.
The earnings driver was its biggest segment, agriculture solutions, whose revenue and net profit grew 12 per cent and 14.5 per cent, respectively. BASF India also announced that production of agro-chemicals from its Dadra site had been stopped as part of rationalisation measures. The stock opened at Rs 252 and made an intraday high of Rs 283.6.