By Clarence LeongMahindra & Mahindra Ltd.'s fourth-quarter net profit rose 48% from a year earlier to 22.37 billion rupees ($288.1 million), thanks to a solid performance from its auto business. Revenue from operations rose 21% from a year earlier to INR259.34 billion, the Indian auto maker said Saturday. Quarterly profit from Mahindra's automotive business more than doubled to INR4.68 billion, compared with INR1.66 billion a year earlier, helped by improving semiconductor supplies. "The demand for the automotive product portfolio remains strong," said Mahindra & Mahindra's executive director Rajesh Jejurikar. Write to Clarence Leong at clarence.leong@wsj.com(END) Dow Jones NewswiresMay 29, 2022 21:15 ET (01:15 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.

Source: Wall Street Journal May 30, 2022 01:25 UTC