3M India's Q4 net profit drops nearly 59 pc, declares Rs 160 dividend
Mumbai: 3M India Limited, the Indian entity of the US-based 3M Co., on Wednesday reported that the company's net profit fell by 58.7 per cent year-on-year (YoY) to Rs 71.37 crore in the fourth quarter of the financial year 2024-25 (Q4 FY25), compared to Rs 172.85 crore in the same quarter previous fiscal (Q4 FY24).
One of the key factors affecting the profit was a sharp rise in tax expenses. The current tax more than doubled to Rs 146.73 crore in the fourth quarter, compared to Rs 58.34 crore in the same period previous fiscal.
However, revenue from operations increased by 9.48 per cent to Rs 1,198.23 crore in Q4 FY25, up from Rs 1,094.54 crore in the year-ago period, according to its stock exchange filing.
For the full financial year FY25, 3M India's net profit declined by 18.4 per cent to Rs 476.06 crore, down from Rs 583.41 crore in the previous financial year (FY24).
However, revenue from operations for the full year rose by 6.1 per cent, reaching Rs 4,445.55 crore, compared to Rs 4,189.36 crore in FY24.
The company also saw a rise in total income, which went up by 7.74 per cent to Rs 1,211.74 crore from Rs 1,124.72 crore in the year-ago period.
On the other hand, total expenses for the quarter slightly declined to Rs 225.22 crore, the company said in its regulatory filing.
The company's board has recommended a final dividend of Rs 160 per equity share and an additional special dividend of Rs 375 per share, both on a face value of Rs 10.
In terms of segment performance, the healthcare division showed strong growth, with revenue rising 17.6 per cent to Rs 233.72 crore from Rs 198.74 crore last financial year.
The safety and industrial segment also performed well, growing by 14 per cent to Rs 381.45 crore, compared to Rs 334.09 crore in Q4 FY24.
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