PI Industries up 17% in first quarter
Indian company PI Industries recorded a sales increase of 17.3% to Rs 5,516 million ($85.9 million at the current rate) in its first quarter ended June 30th 2015. Domestic business grew by around 10% while custom synthesis exports increased by some 26%. Performance of the domestic agri-input sector reflected moderated market sentiment and a cautious approach at the start of the season, the company says. “Farmer sentiment ahead of the kharif (summer) season was cautious following the mixed monsoon forecasts that came out initially,” says managing director and CEO Mayank Singhal.