UPDATE 1-India's Mahindra Q3 net up 3 pct, shares fall

Newswire

(Adds detail, comments, shares) MUMBAI, Jan 31 (Reuters) - India's biggest tractor and utility vehicle maker, Mahindra & Mahindra Ltd. , said on Wednesday quarterly net profit rose an expected 3 percent as tractor sales and strong exports 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 2.42 billion rupees ($55 million) in its fiscal third quarter to end-December from 2.34 billion ...

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