Honeywell Automation India Sees 32% Profit Surge in Q2

Honeywell Automation India reported a 32.01% rise in standalone net profit to Rs 136.5 crore for the June-ended quarter, compared to Rs 103.4 crore in the previous year. Revenue grew by 3.01% to Rs 960.4 crore. However, sequential profit saw a decline of 7.89%. Shares closed at Rs 53,066.75 on BSE.

Honeywell Automation India on Monday reported a significant 32.01 per cent rise in its standalone net profit, amounting to Rs 136.5 crore for the quarter ending in June. This marks an improvement from the Rs 103.4 crore net profit reported during the same period last year.

Quarterly revenue from operations increased by 3.01 per cent, reaching Rs 960.4 crore in contrast to Rs 932.3 crore in the corresponding quarter of the previous fiscal. Sequentially, revenues saw a slight uptick of 1.02 per cent, though there was a 7.89 per cent decline in profits.

Honeywell Automation India Limited (HAIL), a subsidiary of the American conglomerate Honeywell International, primarily offers integrated automation and software solutions. On Monday, HAIL shares closed at Rs 53,066.75 apiece on the BSE, marking a 1.52 per cent decrease from the previous closing price.