UPDATE1-India's Mahindra Q2 net soars; drought a concern


* Cost cuts, volumes boost net profit * Drought, rising raw material prices could hurt By Janaki Krishnan MUMBAI, Oct 29 (Reuters) - India's Mahindra & Mahindra Ltd on Thursday said quarterly net profit nearly trebled helped by cost cuts and strong sales but a weak monsoon and rising input costs could hurt going forward. The strong results sent its shares up as much as 5.6 percent on the day. At 0930 GMT the shares were up 4.5 percent at 933 rupees ($19.7) Net profit in the ...

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