3M India posts quarterly growth

3M India Limited, an Indian subsidiary of US-based 3M Company, on May 28 announced the highlights of results for the quarter and year ended March 31.

The company registered topline and bottomline growth (standalone and consolidated) both Q-o-Q and Q-o-Q (PY) basis.

The sales and other operating income of the company during Jan-March 2021 quarter was Rs 769 crore as against Rs 684 crore during the Oct-Dec 2020 quarter, a growth of 12.4 per cent. While the EBITDA at Rs 103 crore witnessed a growth of 18.4 per cent, PAT was up 24.5 pc at Rs 66 crore.

3M’s sales and other operating income during FY2020-21 was Rs 2,420 crore, down 12.5 pc from FY2019-20 income of Rs 2,765 crore. The PAT of Rs 149 crore during the financial year was also down by 32 per cent.

Commenting on the quarterly and yearly results, Ramesh Ramadurai, Managing Director of 3M India Limited, said “I am very proud of the dedication and focus that all of our employees and partners have shown in responding to the pandemic and in serving our customers. We delivered broad-based growth across most of our end markets in the Jan-Mar 2021 quarter, sustaining the sequential improvements since FY Q2 2020-21.”