India's Mahindra Q2 net down 6.4 pct, lags forecast

Newswire

MUMBAI, July 30 (Reuters) - Mahindra & Mahindra Ltd. , India's top utility vehicle and tractor maker, on Monday reported a surprising 6.4 percent fall in quarterly profit on softer sales of tractors and high-margin three-wheelers. Mahindra, which makes the Logan sedan in a joint venture with France's Renault , said net profit fell to 1.91 billion rupees ($47 million) in the fiscal first quarter to end-June from 2.04 billion a year ago. That lagged a forecast of 2.09 billion rupees in ...

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