Johnson Controls-Hitachi hits the roof after recording PAT of Rs 50 crore in Q4 FY24

Johnson Controls-Hitachi Air Conditioning India was locked in 20% upper circuit at Rs 1491.10 after the company reported a net profit of Rs 50.14 crore in Q4 FY24 as compared with a net loss of Rs 1.88 crore posted in Q4 FY23.

Net sales increased by 40.9% year-over-year (YoY) to Rs 771.81 crore during the period under review.

Total operating expenditure rose by 31.4% to Rs 692.18 crore in Q4 FY24 over Q4 FY23.

Profit before tax in Q4 FY24 stood at Rs 65.06 crore, which is significantly higher as compared with the PBT of Rs 2.16 crore recorded in Q4 FY23.

Johnson Controls-Hitachi has reported a net loss of Rs 49.47 crore in FY24 as against a net loss of Rs 67.10 crore in Q4 FY23. Net sales declined by 19.5% to Rs 1918.70 crore in FY24 as compared with FY23.

Prism Johnson (PJL) is an integrated building materials company, with wide range of products such as cement, ready-mixed concrete, tiles and bath products. The PJL group currently has four divisions - cement, H & R Johnson (HRJ, tiles business), ready mix concrete and RQBE Gen Insurance Co.

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