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3M India Ltd, a subsidiary of the US-based 3M Company, reported a slight dip in consolidated revenue at ₹1,047 crore for Q1 FY25, marking a decline from ₹1,050 crore in the same quarter of the previous year (Q1 FY24). However, the company’s profit after tax (PAT) experienced an increase of 22 per cent to ₹157 crore compared to ₹129 crore in Q1 FY24.
“Revenues remained flat versus prior year,” said Ramesh Ramadurai, Managing Director of 3M India Ltd.
The industrial equipment company reported a 21 per cent increase in EBITDA at ₹227 crore (₹188 crore).
According to the MD, all business segments experienced growth compared to the previous year, except for the Transportation and Electronics divisions. Notably, the consumer business led the growth with a 3.3 per cent increase year-on-year (YoY), followed by the safety and Industrial segment, which grew by 2.7 per cent. The company achieved a 21.8 per cent rise in Profit Before Tax (PBT) compared to the prior year, resulting in a PBT margin of 19.7 per cent.
Total expenses decreased by 4 per cent during the reported quarter, mainly attributed to a reduction in employee benefit expenses and depreciation charges.
Revenue from the healthcare segment remained unchanged, while revenue from the transportation and electronics segment decreased 4 per cent.
Ramesh stressed that the company continues to monitor external trends and their impact on business operations while efficiently serving customers.
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