Bengaluru-based 3M India recorded 8.35 per cent growth in net profit for the quarter ended December at ₹135.23 crore, compared to ₹124.80 crore in the same quarter last year.
Its revenue from operations grew marginally by 1.27 per cent to ₹1005.64 crore from ₹993 crore in the same quarter of last year.
On a sequential basis, revenue from operations decreased by 3.25 per cent from ₹1039.5 crore in Q2. Net profit also decreased by 7.4 per cent from ₹146.11 crore in Q2.
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“The Company delivered 1.3% sales growth in the current quarter versus prior year, and a decline of 3.3% on a sequential basis. The company delivered an 8.3% growth in Proft Before Tax versus prior year with PBT margin of 17.7%. Business trends broadly remained steady versus previous quarter, though some softness was observed in the Health Care segment,” said Ramesh Ramadurai, Managing Director of 3M India Limited.
EBITDA of the company declined sequentially from ₹210 crore in Q2 to ₹195 crore in Q3. On year-on-year basic EBITDA increased by seven per cent from ₹183 crore in same quarter last year.
The company’s expenses fall flat with an increase of 0.39 per cent to ₹840.95 crore from ₹837.67 crore in the same quarter of last year.
On a sequential basis, expenses decreased by 2.33 per cent from ₹861.04 crore in Q2.