India's Mahindra net profit down 6 pct on higher expenses, finance costs
NEW DELHI Aug 8 (Reuters) - Mahindra & Mahindra Ltd , India's top utility vehicle maker, on Friday posted a 6 percent fall in net profit for the June quarter, slightly above analysts' expectations, hit by higher expenses and finance costs.
Net profit for the fiscal first quarter ended June 30 was 8.82 billion rupees ($143.67 million) compared with 9.38 billion rupees a year ago. Net sales rose about 2 percent to 100.96 billion rupees.
Analysts had, on average, expected net profit of 8.36 billion rupees, according to Thomson Reuters I/B/E/S. (1 US dollar = 61.3900 Indian rupee) (Reporting by Aditi Shah; Editing by Sunil Nair)