August 13, 2013 / 9:22 AM / 4 years ago

India's Mahindra does not expect upward input cost pressure in FY14-executive

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MUMBAI, Aug 13 (Reuters) - Mahindra & Mahindra Ltd , India's biggest utility vehicle manufacturer, does not expect any significant upward pressure on raw material costs for this fiscal year ending March 2014, a top company executive told reporters on Tuesday.

Mahindra may increase vehicle prices but the quantum will be small, said Pawan Goenka, president, automotive and farm equipment sectors.

Earlier on Tuesday the company posted a forecast-beating 29 percent rise in first-quarter profit, as strong demand for its tractors compensated for falling sales of its sport utility vehicles. (Reporting by Aradhana Aravindan; Editing by Supriya Kurane)

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