Monsanto Co., the world's biggest developer of genetically engineered crops, said profit in the fiscal third quarter rose 45 percent as sales of herbicides and seeds climbed. 

Net income increased to $252 million, or 93 cents a share, from $174 million, or 66 cents, St. Louis-based Monsanto said in a statement. Revenue gained 14 percent to $1.68 billion from $1.47 billion. 

Profit excluding some items was 85 cents a share. On that basis, the company was expected to earn 85 cents, the average estimate of nine analysts surveyed by Thomson Financial. 

Shares of Monsanto yesterday rose 92 cents to $37.20 in New York Stock Exchange composite trading. They have gained 70 percent in the past year.