3M India profit falls on weaker rupee and rising input costs, shares tumble

3M India

Yesterday 07:54

Nov 6 (Reuters) - Industrial products maker 3M India TMIN.NS posted a more than 17% decline in second-quarter profit on Friday, pressured by a weaker rupee and higher raw material costs, sending its shares down as much as 11% to their lowest level since April 2025.
The Post-it notes and Scotch-Brite cleaning pads maker reported a profit after tax of 1.58 billion rupees ($16.78 million) for the quarter ended September 30, compared with 1.91 billion rupees a year earlier.
Here are some key details:
Revenue from operations rose 14.7% to 14.52 billion rupees, while expenses increased 21.7%
Raw material expenses jumped 19.6% as inflation driven by the Middle East crisis pushed up input prices, the company said
3M India, a unit of US industrial conglomerate 3M MMM.N, sells a range of industrial, safety, healthcare and consumer products, from abrasives and adhesives to personal protective equipment and office supplies
3M India's revenue in its mainstay transportation and electronics segment rose 23.4%, while its second-biggest business, the safety and industrials segment, saw 11.8% growth
Last month, parent 3M MMM.N lifted its 2026 profit forecast after expanding its data-center partnership with Amazon, signalling a deeper push into AI-driven products and services
Shares were down 9% at 26,680 rupees as of 1:13 p.m. IST.


($1 = 94.1550 Indian rupees)

 (Reporting by Mridula Kumar in Bengaluru; Editing by Subhranshu Sahu)
 ((mridula.kumar@thomsonreuters.com))