3M India rises to one-week high on Q3 earnings jump

3M India

08/02/2023 09:18

** Shares of 3M India  TMIN.NS  rise as much as 2.62% to
23,500 rupees, their highest in over a week
    ** The uptick comes after the diversified science and
technology firm reports an 87% jump in Q3 consol profit after
tax to 1.25 bln rupees in 
    ** Core profit rises 79% to 1.71 bln rupees while core
profit margin expands to 17.22% from 11.55% a year ago
    ** Multiple efforts including pricing and mix management
helped  mitigate the impact of cost headwinds and supply chain
challenges, says company's MD Ramesh Ramadurai
    ** Co reports 31% growth in transportation segment, 21%
expansion in healthchare and 16% increase in safety & industrial
segments, respectively
    ** About 14,665 shares change hands as of 2:41 p.m. IST,
more than six times the 30-day avg of 2,321 shares: Refinitiv
data
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))