Honeywell Automation India's net profit in March quarter up y-o-y by 32.3%

16 May 2024 , 04:05 PM

Honeywell Automation India Ltd reported a 32.3% YoY rise in net profit to ₹148.2 Crore for the fourth quarter ending March 31, 2024.

In the quarter, the company reported a net profit of ₹112 Crore, according to a regulatory filing. Revenue from operations increased by 12% to ₹950.7 Crore, compared to ₹849.7 Crore in the previous fiscal year.

EBITDA increased by 22.5% to ₹170 Crore in the fourth quarter of the current fiscal year, up from ₹138.7 Crore the previous year.

In the reporting quarter, the EBITDA margin was 17.9%, up from 16.3% in the same period last fiscal year.

The board of directors proposed a final dividend of ₹100 per equity share, or 1000% of the face value of ₹10, for the fiscal year ending March 31, 2024, subject to shareholder approval at the upcoming AGM.

HAIL has grown into a Fortune India 500 firm with a strong national presence. Its commitment to quality is demonstrated by dual ISO:14001 and OHSAS:18001 certifications, which define industry standards for automation and control systems.

At around 10.00 AM, Honeywell Automation was trading 2.61% lower at ₹47,999 per piece, against the previous close of ₹49,285.45 on NSE.

The company has also notified the exchanges of the resignation of Managing Director Ashish Gaikwad, who will now serve as the India Leader for Honeywell International’s Industrial Automation (IA) unit, one of the company’s core businesses.

Atul Vinayak Pai has been named as the new Managing Director and Key Managerial Personnel of the organisation for a five-year term.

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