Mahindra net profit up 6pc

Mahindra & Mahindra Ltd, India's top-selling utility vehicle maker, on Monday reported a 6 percent rise in quarterly net profit helped by strong sales of its newly-launched SUVs, and rising demand for trucks as the domestic economy slowly recovers.

Mahindra's standalone net profit for the three months ended March 31 rose to 5.84 billion rupees ($87 million), from 5.51 billion a year earlier, but fell short of analyst expectations of 6.45 billion rupees, Thomson Reuters data showed.