3M India profit falls on weaker rupee and rising input costs, shares tumble

Nov 6 (Reuters) - Industrial products maker 3M India TMIN.NS posted a more than 17% decline in second-quarter profit on Friday, pressured by a weaker rupee and higher raw material costs, sending its shares down as much as 11% to their lowest level since April 2025.

The Post-it notes and Scotch-Brite cleaning pads maker reported a profit after tax of 1.58 billion rupees ($16.78 million) for the quarter ended September 30, compared with 1.91 billion rupees a year earlier.

Here are some key details:

• Revenue from operations rose 14.7% to 14.52 billion rupees, while expenses increased 21.7%

• Raw material expenses jumped 19.6% as inflation driven by the Middle East crisis pushed up input prices, the company said

• 3M India, a unit of US industrial conglomerate 3M MMM.N, sells a range of industrial, safety, healthcare and consumer products, from abrasives and adhesives to personal protective equipment and office supplies

• 3M India's revenue in its mainstay transportation and electronics segment rose 23.4%, while its second-biggest business, the safety and industrials segment, saw 11.8% growth

• Last month, parent 3M MMM.N lifted its 2026 profit forecast after expanding its data-center partnership with Amazon, signalling a deeper push into AI-driven products and services

• Shares were down 9% at 26,680 rupees as of 1:13 p.m. IST.

($1 = 94.1550 Indian rupees)