Auto parts maker Magna's profit rises on helped vehicle sales

Thu May 5, 2016 9:06am EDT
 
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May 5 (Reuters) - Canadian auto parts maker Magna International Inc reported an 8 percent rise in first-quarter profit, helped by an higher vehicle sales in North America.

Net income from continuing operations attributable to Magna rose to $492 million, or $1.22 per share, in the quarter ended March 31, from $455 million, or $1.10 per share, a year earlier.

Sales rose about 14.5 percent to $8.90 billion. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Savio D'Souza)