India's Mahindra Q2 net surges on strong sales

Newswire

MUMBAI, Oct 26 (Reuters) - India's biggest tractor and utility vehicle maker, Mahindra & Mahindra Ltd. , said on Thursday quarterly net profit surged as tractor sales and strong exports helped offset high raw material costs. Mahindra, which has about 30 percent of India's tractor market, the world's biggest by volume, said net profit rose to 3.86 billion rupees ($85.2 million) in its fiscal second quarter to end-September from 1.57 billion reported a year earlier. That beat a median ...

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