Honeywell Automation Q1 net dips 48% to Rs 16 cr

However, net sales incresed 17% to Rs 412 cr

Industrial solutions provider Honeywell Automation India reported a 48.4% drop in net profit at Rs 16.4 crore for the quarter ended March 2012 as againsg Rs 32 crore for the same period a year ago.

However, net sales rose 17.3% to Rs 412.6 crore from Rs 351.5 crore in March 2011.

The company's stock was trading 5% lower at Rs 3,100 on Bombay Stock Exchange at 1450 hours.