Honeywell Automation spurts as Q1 PAT rises 11% YoY

Honeywell Automation India jumped 10.81% to Rs 44,260 after the company reported 11.4% rise in net profit to Rs 101.97 crore in Q1 FY23 as against Rs 91.53 crore posted in Q1 FY22.

Net sales increased 15.1% year on year to Rs 786.17 crore in the quarter ended 30 June 2022. Profit before tax in Q1 FY23 stood at Rs 137.36 crore, up by 11.1% from Rs 123.60 crore in Q1 FY22.

Total expenses were at Rs 678.01 crore, rising by 16.6% year on year in the quarter ended 30 June 2022. Cost of materials stood at Rs 327.77 crore (up 20.67% YoY) and employee benefits expense was at Rs 155.03 crore (up 13.64% YoY) in Q1 FY23.

 

Honeywell Automation India is engaged in providing integrated automation and software solutions, including process solutions and building solutions.

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