November 8, 2012 / 10:38 AM / in 5 years

Magna profit jumps on gains from acquisition

(Reuters) - Magna International Inc (MG.TO), one of the world’s biggest auto parts manufacturers, said third-quarter profit nearly quadrupled on gains related to its purchase of the minority stake in its electric car business.

Net income attributable to Magna rose to $390 million, or $1.66 per share, from $102 million, or 42 cents per share, a year earlier.

The company, which also assembles complete vehicles, said sales rose 6.3 percent to $7.41 billion. (Reporting by Nicole Mordant in Vancouver and Bhaswati Mukhopadhyay in Bangalore; Editing by Sreejiraj Eluvangal)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below