3M India drops after Q2 PAT slumps 8% YoY to Rs 134 cr

3M India declined 3.11% to Rs 33,745.55 after the company's standalone net profit fell 8.44% to Rs 133.78 crore despite of 6.86% increase in revenue from operations to Rs 1,110.80 crore in Q2 FY25 over Q2 FY24.

Profit before tax (PBT) dropped 6.54% YoY to Rs 183.10 crore during the quarter.

EBITDA stood at Rs 201 crore in Q2 FY2, registering the de-growth of 4% as compared with Rs 210 crore posted in corresponding quarter last year.

In Q2 FY25, revenue from safety & Industrial segment stood at Rs 360.42 crore (up 8.56% YoY), revenue from Healthcare stood at Rs 232.32 crore (up 19.33% YoY), consumer segment stood at Rs 124.74 crore (up 8.32% YoY) while revenue from transportation & electronics business was at Rs 385.34 crore (down 1.4% YoY)

Ramesh Ramadurai, managing director of 3M India, said, The company delivered 7% sales growth in the current quarter versus corresponding prior year and growth of 6% on a sequential basis. Growth versus prior year was led by Health Care at 19%. Safety & Industrial and Consumer business segments delivered between 8% - 9% growth. Transportation & Electronics segment growth declined marginally by 1.4%.

The company delivered growth broadly in line with enduse markets, with outperformance in certain segments such as automotive, consumer and healthcare. We experienced cost headwinds both due to elevated freight costs as well as material cost increases. In this environment, our teams were focused on serving our customers efficiently through effective cross-functional collaboration.

3M India is a diversified company engaged in manufacturing of, and trading in, a wide variety of products catering to the industrial, transportation, automotive, construction, engineering, healthcare, traffic and safety, household, and office segments. Its operations are broadly classified under five business segments: safety & industrial, transportation & electronics, health care, consumer and others.

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