Profit for India's SUV maker

Published by Metro India News Online on May 30, 2016 16:25:04 PM

Mahindra & Mahindra Ltd., one of India's leading utility vehicle-maker, on Monday, reported a 6 percent rise in their quarterly net profit.

This was due to the strong sales of its newly-launched SUVs and the rising demand for trucks as the domestic economy is gradually recovering.

According to Thomson Reuters data, Mahindra's standalone net profit for the three months ended on March 31 when it rose to 5.84 billion rupees ($87 million) from 5.51 billion a year earlier. But it fell short of analyst expectations of 6.45 billion rupees.

Net sales also rose about 15 percent to 106.7 billion rupees.