India's Mahindra Q4 net falls 6.4 pct; lags f'cast

Newswire

MUMBAI, May 28 (Reuters) - Mahindra & Mahindra Ltd , India's top utility vehicle and tractor maker, on Wednesday reported a 6.4 percent fall in quarterly profit, hurt by a rise in price of raw materials such as steel. Mahindra, which recently lost the bid for Ford Motor's Jaguar and Land Rover brands to Tata Motors , said net profit fell to 2.21 billion rupees ($51.6 million) in the fiscal fourth quarter to end-March from 2.36 billion reported a year earlier. That lagged a Reuters ...

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