Half yearly performance
Consolidated sales was up by 6% to Rs 1568.02 crore driven largely by growth in revenue of all the four core business segments of the company. The segment revenue of S&I was up by 4% to Rs 593.30 crore and that of T&E was up by 5% to Rs 529.89 crore. The segment revenue of healthcare and consumer was up by 8% and 11% respectively to Rs 261.28 crore and Rs 171.19 crore.
But with OPM contract by 30 bps to 17.6%, the operating profit was up by 4% to Rs 276.24 crore facilitated largely by higher sales. After accounting for lower other income, higher interest and higher depreciation, the PBT was flat at Rs 264.19 crore. But a 19% fall in taxation to Rs 74.05 crore saw the PAT up by 10% to Rs 190.14 crore.
The EBIT was up by 2% to Rs 247.55 crore as the two large segments of the company i.e. S&I and T&E register lower segment profit for the period. S&I registered 3% fall in segment profit to Rs 104.45 crore and the T&E registered 10% fall in segment profit to Rs 53.88 crore. Despite higher sales the fall in segment profit for both S&I and T&E business of the company is largely due to 120 bps and 170 bps erosion in their segment margin respectively to 17.6% and 10.2%. The segment profit of healthcare was up by 5% to Rs 48.58 crore riding largely on higher sales as it segment margin eroded by 70 bps to 18.6%. However riding on higher sales as well as 560 bps expansion in segment margin to 22.3%, the segment profit of consumer was up by 48% to Rs 38.21 crore.
3M India: Consolidated Results
3M India : Consolidated Segment results
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