Honeywell Auto slips after Q4 PAT declines 6% YoY

Honeywell Automation fell 1.36% to Rs 42,286.70 after the company's net profit declined 6.4% to Rs 104.02 crore in Q4 FY21 compared with Rs 111.14 crore in Q4 FY20.

Revenue from operations fell 4.48% to Rs 672.70 crore in Q4 FY21 as against Rs 704.26 crore in Q4 FY20. Profit before tax tumbled 7.17% to Rs 138.26 crore in Q4 FY21 as against Rs 148.94 crore in Q4 FY20.

The company said its operations and financial results for the quarter have not been materially impacted by the lockdown. The company said it continues to monitor the economic effects of the pandemic while taking steps to improve its execution efficiencies and financial outcome.

The company posted a 6.4% decline in net profit to Rs 460.04 crore on 7.51% fall in revenue from operations to Rs 3,042.78 crore in the year ended March 2021 (FY21) over the year ended March 2020 (FY20).

Meanwhile, the board has declared a dividend of Rs 85 per equity share for the financial year ended 31 March 2021.

Honeywell Automation India is a leader in providing integrated automation and software solutions, including process solutions and building solutions. It has a wide product portfolio in environmental and combustion controls, and sensing and control, and also provides engineering services in the field of automation and control to global clients.

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