NEW DELHI–3M India Limited reported a 17.2% decline in consolidated net profit for the second quarter of fiscal 2027, despite double-digit revenue growth, sending its shares down nearly 10% on Friday.
The company posted a net profit of Rs 158 crore for the quarter ended September 30, 2026, compared with Rs 191 crore during the same period a year earlier, according to its financial results released November 6.
Sales and other operating income increased 14.7% to Rs 1,452 crore, up from Rs 1,266 crore in the corresponding quarter of fiscal 2026.
On a sequential basis, revenue rose 2.1% from Rs 1,423 crore in the April-June quarter. However, profit after tax declined 32% from Rs 233 crore in the preceding quarter.
The company’s operating profitability weakened despite higher sales.
Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 12.7% to Rs 234 crore, compared with Rs 268 crore in the year-earlier period.
Profit before tax also declined 15.3% to Rs 212 crore from Rs 251 crore a year earlier.
All four of the company’s major business segments recorded revenue growth during the quarter.
The Transportation and Electronics segment led with a 23.4% increase, followed by the Consumer segment, which grew 19.5%.
The Safety and Industrial business reported 11.8% growth, while the Healthcare segment posted a 4.1% increase.
Managing Director Aseem Joshi attributed the company’s revenue performance to its continued emphasis on commercial operations and product innovation.
Despite growth across its business segments, the decline in earnings weighed heavily on investor sentiment.
Shares of 3M India closed nearly 10% lower at Rs 26,400.05 on the Bombay Stock Exchange on Friday, matching the stock’s 52-week low. The company’s shares have traded as high as Rs 38,300 over the past year.
In a separate regulatory disclosure, 3M India announced the resignation of Non-Executive Director Kong Sau Wai Elizabeth from its Board of Directors, effective at the close of business on November 6.
Elizabeth said she was stepping down to pursue another professional opportunity outside the 3M Group.
“I am writing to inform you of my decision to resign from the position of Non-Executive Director of 3M India Limited from the close of India business hours on November 6, 2026, as I will soon be moving on to another professional opportunity outside the 3M Group,” she stated in her resignation letter.
Her departure also includes resignation from all board committees on which she currently serves. (Source: IANS)
