BENGALURU (Reuters) – India’s Mahindra and Mahindra reported a first-quarter profit that nearly doubled on Friday, helped by higher sales of its expensive sports utility vehicles (SUVs).
The maker of Scorpio, Thar and XUV ranges of SUVs posted a standalone profit after tax of 27.74 billion rupees ($335.10 million) in the quarter ended June 30, compared to 14.04 billion rupees a year before.
($1 = 82.7810 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru)
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