MUMBAI Oct 25 Mahindra and Mahindra Ltd
, India's biggest utility vehicle manufacturer, beat
analysts' estimates with a 22 percent rise in second-quarter net
profit, as continued strong sales of its SUVs more than
compensated for a slide in tractor sales.
Mahindra said on Thursday net profit for the September
quarter was 9.02 billion rupees ($168 million), against 7.37
billion rupees a year earlier.
Net sales rose 33 percent to 96.59 billion rupees.
Analysts, on average, had expected profit of 8.40 billion
rupees, on revenue of 95.72 billion rupees, according to Thomson
($1 = 53.8050 Indian rupees)
(Writing by Henry Foy; Editing by Daniel Magnowski)