BENGALURU (Reuters) – Indian automaker Mahindra & Mahindra posted a smaller-than-expected rise in third-quarter profit on Wednesday as weak demand for its profit-boosting tractors offset strong sport utility vehicle (SUV) sales.
The ‘Scorpio’ SUV-maker’s standalone profit after tax rose 60.6% to 24.54 billion rupees ($295 million) in the three months to Dec. 31, missing analysts’ estimate of 25.12 billion rupees.
($1 = 83.0712 Indian rupees)
(Reporting by Varun Vyas and Nandan Mandayam in Bengaluru; Editing by Sonia Cheema)
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