Aug 1 (Reuters) - Engineering firm Honeywell Automation
India reported a second consecutive quarterly profit
fall on Friday, as its expenses rose.
Profit at the Indian arm of U.S. conglomerate Honeywell
International ( HON ) fell 8.7% year-on-year to 1.25 billion
rupees ($14.3 million) in the quarter ended June 30.
Honeywell Automation, which provides smart building systems
and clean-tech solutions, benefited from increased demand for
automation, which boosted its revenue by 23.2% to 11.83 billion
rupees.
However, its expenses rose 28.8% to 10.57 billion rupees,
weighing on the bottomline.
Cost of materials consumed, which constitutes more than half
of the total expenses, jumped more than 50%.
The company does not disclose details about its revenue
segmentation or which raw materials it uses.
Honeywell Automation India's stock, one of the country's
most expensive, closed 1.2% higher at 39,235 rupees ahead of the
results.
Its parent's June-quarter net income was almost at $1.57
billion, it reported on July 24.
($1 = 87.4890 Indian rupees)
(Reporting by Anuran Sadhu in Bengaluru; Editing by Mrigank
Dhaniwala)