Auto parts maker Magna's profit rises on N.America, Europe demand

Thu May 8, 2014 8:13am EDT
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May 8 (Reuters) - Canada's Magna International, one of the world's largest auto parts makers, reported a nearly 7 percent rise in quarterly net profit, helped by higher demand in North America and Europe.

Net income attributable to the company climbed to $393 million, or $1.76 per share, in the first quarter ended March 31, from $369 million, or $1.57 per share, a year earlier.

Sales rose 7 percent to $8.96 billion. (Reporting by Sayantani Ghosh in Bangalore; Editing by Savio D'Souza)