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Canada's Magna International posts 19 pct rise in profit
May 11, 2017 / 12:12 PM / 4 months ago

Canada's Magna International posts 19 pct rise in profit

May 11 (Reuters) - Canadian auto parts maker Magna International Inc, posted a 19 percent jump in quarterly profit, helped by higher demand.

Net income attributable to Magna rose to $586 million, or $1.53 per share, in the first quarter ended March 31, from $492 million, or $1.22 per share, a year earlier.

The company’s total sales rose to $9.37 billion from $8.90 billion. (Reporting by John Benny in Bengaluru; Editing by Savio D‘Souza)

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