3M India Ltd reports Q1FY22 consolidated PAT of Rs. 30.09 crore

3M India Ltd. has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.751.86 crores during the period ended June 30, 2021 as compared to Rs.834.37 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.30.09 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.70.46 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.26.72 for the period ended June 30, 2021 as compared to Rs.62.56 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 751.86 crs	₹ 834.37 crs	-9.89%
Net Profit	₹ 30.09 crs	₹ 70.46 crs	-57.29%
EPS	₹ 26.72	₹ 62.56	-57.29%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.751.86 crores during the period ended June 30, 2021 as compared to Rs.352.58 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.30.09 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.(42.51) crores for the period ended June 30, 2020.

The company has reported EPS of Rs.26.72 for the period ended June 30, 2021 as compared to Rs.(37.74) for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 751.86 crs	₹ 352.58 crs	113.25%
Net Profit	₹ 30.09 crs	₹ (42.51) crs	170.78%
EPS	₹ 26.72	₹ (37.74)	170.8%

Commenting on the quarterly results, Mr. Ramesh Ramadurai, Managing Director of 3M India Limited, said "I thank all of our employees and business partners for meeting customer expectations during yet another quarter of volatility amidst the trauma of the second wave. The Company faced significant cost headwinds during the quarter, both in material cost inflation as well as freight related cost increases. We do not anticipate immediate relief from these cost pressures.

I am proud of the support we were able to provide government hospitals in partnership with other Companies, in augmenting ICU beds capacity, and other similar interventions. I am pleased that over 90% of our employees have received at least one dose of the vaccine and close to 50% have received both doses. Most of these were done through Company sponsored vaccine drives for employees and their families, Pan India."

Shares of 3M India Ltd. was last trading in BSE at Rs. 23807.25 as compared to the previous close of Rs. 23910.85. The total number of shares traded during the day was 96 in over 81 trades.

The stock hit an intraday high of Rs. 23911.05 and intraday low of 23519.1. The net turnover during the day was Rs. 2276662.

Source : Equity Bulls

Keywords