3M INDIA Announces Quarterly Results (1QFY20); Net Profit Down 9.5%

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3M INDIA Announces Quarterly Results (1QFY20); Net Profit Down 9.5%
Fri, 16 Aug

3M INDIA has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

3M INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m7,0077,4288,0458.3%14.8%
Other incomeRs m942563155.5%-33.0%
TurnoverRs m7,1017,4538,1088.8%14.2%
ExpensesRs m5,4636,4016,5652.6%20.2%
Gross profitRs m1,5441,0271,48044.1%-4.1%
DepreciationRs m10410814938.3%43.5%
InterestRs m26833.4%327.3%
Profit before taxRs m1,5329381,38547.7%-9.6%
TaxRs m53633548444.6%-9.7%
Profit after taxRs m99660390149.4%-9.5%
Gross profit margin%22.013.818.4
Effective tax rate%35.035.734.9
Net profit margin%14.08.111.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 14.8% on a year-on-year (YoY) basis. The expenses were up by 20.2% YoY during the same period.
  • The company's operating profit declined by 4.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.4% in 1QFY20 as against 22.0% in 1QFY19.
  • Depreciation charges increased by 43.5% and finance costs increased by 327.3% YoY, respectively.
  • Other income declined by 33.0% YoY during the quarter.
  • Net profit for the quarter declined by 9.5% YoY. Net profit margins during the quarter declined from 14.0% in 1QFY19 to 11.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.6% QoQ during the same period.
  • The company's operating profit increased by 44.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.4% in 1QFY20 as against 13.8% in 4QFY19.
  • Net profit for the quarter increased by 49.4% QoQ, while net profit margins increased from 8.1% in 4QFY19 to 11.1% in 1QFY20.

To see how 3M INDIA has performed over the last eight quarters,please visit here.

3M INDIA Share Price Performance

Over the last one year,3M INDIA share price has moved down from Rs 25,248.2 to Rs 20,969.7, registering a Loss of Rs 4,278.5 or around 16.9%.

Overall, the S&P BSE SENSEX is down 2.0% over the year.

Current Valuations

At the current price of Rs 20,969.7, the price to earnings (P/E) ratio of 3M INDIA stands at 72.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 16.5 times.

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Related Views on News

3M INDIA Announces Quarterly Results (1QFY21); Net Profit Down 147.2% (Quarterly Result Update)

Sep 14, 2020 | Updated on Sep 14, 2020

For the quarter ended June 2020, 3M INDIA has posted a net profit of Rs 425 m (down 147.2% YoY). Sales on the other hand came in at Rs 3 bn (down 57.0% YoY). Read on for a complete analysis of 3M INDIA's quarterly results.

3M INDIA Announces Quarterly Results (4QFY20); Net Profit Down 0.3% (Quarterly Result Update)

Jun 1, 2020 | Updated on Jun 1, 2020

For the quarter ended March 2020, 3M INDIA has posted a net profit of Rs 601 m (down 0.3% YoY). Sales on the other hand came in at Rs 7 bn (down 9.4% YoY). Read on for a complete analysis of 3M INDIA's quarterly results.

3M INDIA 2018-19 Annual Report Analysis (Annual Result Update)

Jul 18, 2019 | Updated on Jul 18, 2019

Here's an analysis of the annual report of 3M INDIA for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of 3M INDIA. Also includes updates on the valuation of 3M INDIA.

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