Mumbai, May 28 || 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.