Feb 12 (Reuters) - Industrial giant 3M's Indian arm TMIN.NS swung to a quarterly loss for the first time in five-and-a-half years, hit by a one-time charge linked to the country's new labour codes.
The company, whose products range from Post-it notes to power tools, posted on Thursday a loss of 620.6 million rupees ($6.85 million) for the quarter ended December 31, compared to a profit of 1.14 billion rupees a year ago.
The firm had last posted a loss in the quarter ended June 2020 amid a nationwide COVID-19 lockdown.
For the December quarter, 3M India's revenue in the transportation and electronics segment rose 3.8%, dipping from a year-earlier 10% rise.
3M India's second-biggest business, the safety and industrials segment, grew by 20% while its healthcare segment posted 13.5% growth.
Total revenue climbed 12.7% to 12.28 billion rupees, outpacing expenses, which rose 10%.
The company booked a charge of about 746 million rupees tied to India's new labour codes, the country's biggest overhaul of workers' laws in decades which have dragged profits of firms across sectors.
The Scotch-Brite scrub maker said Managing Director–designate Aseem Joshi will take over from Ramesh Ramadurai in April 2026.
Last month, parent 3M MMM.N posted an annual profit that came in just below Wall Street estimates, citing uneven demand. CEO Bill Brown said its roofing‑granules and automotive‑aftermarket units will stay under pressure early in 2026 due to a weak macro environment.
($1 = 90.6080 Indian rupees)
(Reporting by Urvi Dugar in Bengaluru; Editing by Mrigank Dhaniwala)
((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))