Mahindra & Mahindra FQ1 Net Profit Up 20%
India's Mahindra & Mahindra Ltd (OTC: MAHMF) reported a 20% rise in its fiscal first-quarter net profit.
Its quarterly net profit surged to 7.26 billion rupees ($131.89 million), from 6.05 billion rupees, in the year-ago period.
Its sales jumped 40% to 92.48 billion rupees. However, analysts were expecting a net profit of 5.98 billion rupees on sales of 90.87 billion rupees.
Mahindra & Mahindra shares closed at $12.55 yesterday.
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