Published on 29/05/2020 4:19:20 PM | Source: Dion Global Solutions Ltd

3M India posts Q4 net loss of Rs 25.83 cr

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The company reported standalone net loss during the quarter stood at Rs 25.83 crore compared to net profit of Rs 58.15 crore in the previous year quarter.  Net revenue of the company declined moderately by 9.00 per cent at Rs 627.21 crore in January-March quarter of this fiscal as against Rs 689.23 crore in the corresponding period last year.

During January-March quarter, operating expenses increased by 8.03 per cent to Rs 638.56 crore from Rs 591.10 crore in year ago period. Other Income grew by 464.53 per cent at Rs 11.46 crore versus (Mar'19 Rs 2.03 crore).

Operating Profit slipped by 111.57 per cent to Rs -11.35 crore as against Rs 98.13 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 112.71 per cent in March quarter. Interest grew by 43.55 per cent y-o-y to Rs 0.89 crore, while Taxation decreased by 68.76 per cent at Rs 9.70 crore (Mar'19 Rs 31.05 crore).