India's Mahindra posts Q2 profit vs loss year ago

Newswire

NEW DELHI, Oct 30 (Reuters) - India's largest tractor and utility vehicles maker, Mahindra & Mahindra, posted a profit for its second quarter on Wednesday, recovering from a loss a year earlier helped by a stake sale in an auto parts joint venture. The Bombay-based vehicle maker reported a net profit of 582.73 million rupees ($12 million) in July-September, compared with a loss of 26.72 million rupees in the year ago. Net sales jumped 7.9 percent to 8.21 billion rupees. Mahindra's ...

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