BENGALURU, Aug 6 Reuters 3M India reported on Tuesday a 22 jump in its firstquarter profit, as a decrease in total expenses helped lift the diversified products maker39;s bottomline.

The company, which makes everything from 39;Postit39; notes to power tools, reported a consolidated profit after tax of 1.57 billion rupees 18.7 million for the quarter ended June 30, from 1.29 billion rupees a year earlier.

Total expenses declined 4 during the reported quarter, primarily due to a decrease in employee benefit expenses and depreciation charges.

3M India, the Indian arm of the U.S.based industrial conglomerate 3M Co, said its safety and industrial segment which contributes 32 to the total revenue saw a slight rise in revenue.

The segment houses products including fire barrier seals and electrical resins.

Revenue from its healthcare segment remained flat, while that from its transportation and electronics segment fell 4.

3M39;s total revenue remained flat as consistent price hikes across its product range, including adhesives and office supplies, dampened demand.

Last month, U.S.based 3M Co reported betterthanexpected profit for June quarter and raised its annual adjusted profit forecast, hoping to benefit from its restructuring measures and increasing demand for electronics.

1 83.9325 Indian rupees

Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sherry JacobPhillips

Source Reuters