Bangalore – based 3M India, the Indian subsidiary of 3M Co, reported a 27 percent increase in quarterly profit, and 5 percent increase in revenue. aided by strong demand across its healthcare equipment, transportation, and electronics segments.
The company’s shares surged 11.8% in response. The healthcare segment, which manufactures surgical supplies and medical component tapes, saw a 19% revenue increase. This growth was driven by rising healthcare needs in India due to the country’s growing population.
Additionally, Reuters notes that 3M India announced a dividend of 160 rupees per share and a special dividend of 525 rupees per share. The strong financial performance of 3M India aligns with the better-than-expected profit reported by its parent company, 3M Co, in the March quarter, driven by higher sales in its electronics unit.
