Tesla posts quarterly profit

Tesla Inc made good on Chief Executive Officer Elon Musk's promise that it would turn a profit in the third quarter.

The Silicon Valley electric carmaker said it made a net profit of $311.5 million in the quarter, still tiny when compared to the billions of dollars the company has burned through as it ramps up production of its Model 3 sedan.

Tesla also said it had free cash flow of $881 million.

(Reporting by Sonam Rai in Bengaluru and Alexandria Sage in San Francisco; Editing by Anil D'Silva)