(Reuters) – Indian automaker Mahindra & Mahindra reported a surprise rise in second-quarter profit on Thursday, helped by higher sales of its utility vehicles and a recovery in tractor demand.
The ‘Scorpio’ maker’s standalone profit after tax rose 13.2% to 38.41 billion rupees ($455.4 million), while analysts, on average, expected profit to dip to 33.92 billion rupees, per data compiled by LSEG.
($1 = 84.3500 Indian rupees)
(Reporting by Meenakshi Maidas and Nandan Mandayam in Bengaluru)
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