Honeywell Automation of India is trading higher by 3% to Rs 2,603, in otherwise subdued market, after reporting 14.5% year-on-year (yoy) growth in operating profit at Rs 52 crore for the fourth quarter ended December 31, 2012 (Q4) mainly on account of lower raw material cost.
The company’s net profit grew by 5.5% yoy to Rs 36 crore, despite of 9% fall in total operational income at Rs 454 crore, over the corresponding quarter last year on the back of better operating performance.
“The total raw material cost of the company has declined by 24% yoy to Rs 208 crore during the recently concluded quarter,” Honeywell Automation said in a statement.
The board of directors of the company has recommended dividend of Rs 10 per share for the year ended December 31, 2012.
The stock opened at Rs 2,581 and hit a high of Rs 2,670 on NSE. A combined 15,461 shares have changed hands on the counter so far on both the exchanges.
The company’s net profit grew by 5.5% yoy to Rs 36 crore, despite of 9% fall in total operational income at Rs 454 crore, over the corresponding quarter last year on the back of better operating performance.
“The total raw material cost of the company has declined by 24% yoy to Rs 208 crore during the recently concluded quarter,” Honeywell Automation said in a statement.
The board of directors of the company has recommended dividend of Rs 10 per share for the year ended December 31, 2012.
The stock opened at Rs 2,581 and hit a high of Rs 2,670 on NSE. A combined 15,461 shares have changed hands on the counter so far on both the exchanges.
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