Prasad Balakrishnan has been appointed interim CFO, with effect from 30 January 2025.
Prasad Balakrishnan holds a Bachelor’s Degree in Commerce from Bangalore University and is a qualified Chartered Accountant.
Prasad Balakrishnan has about 22 years of experience of working in senior finance positions. During his last 16 years in 3M, He has held several finance positions such as Finance Manager, Internal Audit head and currently as Finance Controller. Prior to joining 3M, he worked with Metro Cash and Carry for 6 years in various roles of Finance. His experience runs across broadly in the finance function, including Accounting and Controlling, Financial Planning, Treasury, M&A, Taxation and related compliance roles.
3M India is a diversified company engaged in manufacturing of, and trading in, a wide variety of products catering to the industrial, transportation, automotive, construction, engineering, healthcare, traffic and safety, household, and office segments. Its operations are broadly classified under five business segments: safety & industrial, transportation & electronics, health care, consumer and others.
The company’s standalone net profit fell 8.44% to Rs 133.78 crore despite of 6.86% increase in revenue from operations to Rs 1,110.80 crore in Q2 FY25 over Q2 FY24.
The scrip rose 0.15% to settle at Rs 29,398.80 on Wednesday, 29 January 2025.