BENGALURU, Aug 5 Reuters Engineering firm Honeywell Automation reported higher firstquarter profit on Monday, aided by execution of existing orders.

The Indian unit of U.S.based Honeywell International reported a profit of 1.37 billion rupees around 16 million, compared to 1.03 billion rupees a year ago.

Execution of legacy projects and stable costs helped boost earnings of Honeywell, analysts said. The company provides building automation solutions to industrial clients and designs emissioncurbing and energy transition products.

Its revenue from operations advanced 3 to 9.6 billion rupees. Honeywell Automation does not provide segmental details on its earnings.

Total expenses slipped 0.7 to 8.21 billion rupees, mainly due to a 41 slump in what the company classified as other expenses without providing specific details.

Honeywell Automation39;s stock, one of India39;s costliest, rose nearly 47 in the quarter, its highest in at least 10 years, as per LSEG data.

It closed 2.7 lower on the day, amid a broader market selloff.

1 83.8100 Indian rupees

Reporting by Manvi Pant in Bengaluru; Editing by Varun H K

Source Reuters