Monsanto's profit jumps 28.7 percent

[April 05, 2017]  (Reuters) - U.S. seeds and agrochemicals company Monsanto Co, which is in the process of being bought by Germany's Bayer AG for $66 billion, reported a 28.7 percent rise in quarterly profit, helped by strong demand for soybean and corn seeds.

A Monsanto logo is pictured in the company headquarters in Morges, Switzerland, May 25, 2016. REUTERS/Denis Balibouse/File Photo

Net profit attributable to Monsanto rose to $1.37 billion, or $3.09 per share, in the second quarter ended Feb. 28, from $1.06 billion, or $2.41 per share, a year earlier.

Monsanto, best known for its Roundup herbicide and its genetically-engineered corn and soybean seeds, said net sales rose 12 percent to $5.07 billion.

(Reporting by Arathy S Nair in Bengaluru; Editing by Sai Sachin Ravikumar)

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