UPDATE 2-India's Mahindra Q3 net up 75 pct, beats forecast

Newswire

(Adds comments, closing share price) By Rina Chandran MUMBAI, Jan 31 (Reuters) - Mahindra & Mahindra Ltd. , India's top tractor and utility vehicle maker, posted a better-than-expected 75 percent rise in quarterly profit on Tuesday, sending its shares surging to a record high. Firms in India's quickly growing auto industry have sought to slash costs as commodity prices boosted their input bills. But raw material costs fell 30 percent in the quarter, helping lift operating margins ...

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