Industrial solutions provider Honeywell Automation India reported a 48.4% drop in net profit at Rs 16.4 crore for the quarter ended March 2012 as againsg Rs 32 crore for the same period a year ago.
However, net sales rose 17.3% to Rs 412.6 crore from Rs 351.5 crore in March 2011.
The company's stock was trading 5% lower at Rs 3,100 on Bombay Stock Exchange at 1450 hours.
