3M India’s net profits grew by 66 per cent to ₹113 crore in the third quarter that ended in December 2022 compared with ₹68 crore in the same quarter last year.
In Q3, it posted a net revenue of ₹932 crore — an increase of 22 per cent over the previous year’s ₹764 crore. While EBITA for this quarter grew by 58 per cent to ₹166 crore (₹105 crore).
“The transportation and electronics segment led with 31 per cent growth. Healthcare grew 20.5 per cent, while safety and industrial segment grew 16.1 per cent during the quarter,” said Ramadurai, Managing Director of 3M India Limited.
He added that the teams continued to execute multiple actions, including pricing and mix management, to mitigate the impact of cost headwinds and supply chain challenges. “These actions continued to yield steady results, with the PBT margin for the quarter improving to 16.7 per cent. The company is diligently monitoring the external situation by staying in close contact with customers and supply partners,” Ramadurai added.
For Q3, the company announced earnings per share of ₹100.11 compared with ₹60.13 in Q3 FY22.