Honeywell Automation India Ltd (NSE: HONAUT) saw a 3% drop in its stock price on Friday following its Q3 FY24 earnings report. Despite a rise in net profit, weaker margins impacted investor sentiment. As of 9:40 AM, the shares were trading 3.39% lower at Rs 37,040.05.
The company’s net profit rose 3.3% YoY to ₹132.1 crore for the quarter ending December 31, 2024, compared to ₹127.9 crore in the previous year. Revenue from operations grew 1.8% YoY to ₹1,090.8 crore, up from ₹1,071 crore.
However, EBITDA declined 11.6% to ₹142 crore from ₹160.6 crore in Q3 FY23. The EBITDA margin contracted to 13%, down from 15% a year ago, reflecting cost pressures.
Honeywell Automation’s stock opened today at ₹38,301, reaching a high of ₹38,597.15 and a low of ₹36,936.20. The stock remains volatile, nearing its 52-week low of ₹36,271.00, while significantly below its 52-week high of ₹59,994.00.
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