May 9, 2019 / 9:25 AM / 2 months ago

Canada's Magna International quarterly profit rises 68 pct

May 9 (Reuters) - Canadian auto parts maker Magna International Inc said its first-quarter profit surged nearly 68 percent, boosted by sale of some businesses and gains from investments.

Net income attributable to Magna rose to $1.11 billion, or $3.39 per share, in the first quarter ended March 31, from $660 million, or $1.83 per share, a year earlier.

However, total sales fell to $10.59 billion from $10.79 billion. (Reporting by Shradha Singh in Bengaluru; editing by Gopakumar Warrier)

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