THL is a joint venture between Honeywell Inc, USA and Tata Industries and is in the industrial automation and control business. Tata Honeywell has turned out a good performance despite a steep fall in the investments in the core industries which forms the major customer segment.

THL diversified into newer customer segments and improved operational efficiency to post good results.

THL's sales and other income is up from previous year's Rs 177.23 crore to Rs 232.17 crore for year ended March 31, 1999. Net profit this year is Rs 11.11 crore compared to last year's Rs 5.36 crore.

Operating profit is up from last year's Rs 10.16 crore to Rs 17.86 crore for year ended March 31, 1999.

The company has done exceptionally well during the last quarter ended March 1999. During the lastquarter, sales and other income, profit before tax and net profit has nearly doubled compared to the performance of the last quarter of the previous year.

During the last quarter sales and other income was at Rs 81.48 crore compared to previous year's last quarter figure of Rs 84.51 crore. Net profit for the same period was Rs 6.09 crore while the previous year's profit was Rs 3.74 crore.