HAL Q1 Results: Net profit rises 30% to ₹814 crore, revenue up 8% YoY | Mint
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Business News/ Companies / Company Results/  HAL Q1 Results: Net profit rises 30% to 814 crore, revenue up 8% YoY
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HAL Q1 Results: Net profit rises 30% to ₹814 crore, revenue up 8% YoY

HAL Q1 Results: The state-run aerospace and defence company's revenue from operations rose 8 per cent to ₹3,915.35 crore, compared to ₹3,622 crore in the year-ago period.

HAL Q1 Results: Net profit rises 30% to ₹814 crore, revenue up 8% YoY (Pixabay)Premium
HAL Q1 Results: Net profit rises 30% to 814 crore, revenue up 8% YoY (Pixabay)

HAL Q1 Results: Hindustan Aeronautics Ltd (HAL) released its April-June quarter results for fiscal 2023-24 (Q1FY24) on August 11, reporting a rise of 30 per cent in consolidated net profit at 814 crore, compared to 620 crore in the corresponding period last year.

The state-run aerospace and defence company's revenue from operations rose 8 per cent to 3,915.35 crore, compared to 3,622 crore in the year-ago period. On the operating front, the company's earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 880 crore during the June quarter, registering a growth of 6 per cent, compared with 830 crore in the year-ago period.

Margins during the June quarter improved to 22.5 per cent, compared to 22.9 per cent a year ago. Total expenses during the June quarter stood at 3,239 crore, compared to 3,004 crore during the year-ago period.

Headquartered in Bangalore, HAL was established in 1940, and is one of the oldest and largest aerospace and defence manufacturers in the world. It began aircraft manufacturing as early as 1942 with licensed production of Harlow PC-5, Curtiss P-36 Hawk and Vultee A-31 Vengeance for the Indian Air Force. HAL currently has 11 dedicated research and development (R&D) centres and 21 manufacturing divisions under 4 production units spread across the country.

The public-sector undertaking (PSU) is managed by a board of directors appointed by the President of India through the Ministry of Defence of the government

HAL is currently involved in designing and manufacturing of jet engine, fighter jets, helicopters, and marine gas turbine engine, avionics, software development, spares supply, overhauling and upgrading of the Indian military aircraft.

Following the announcement of results, shares of HAL settled 0.35 per cent higher at 3,804.40 apiece on the BSE on August 11.

 

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Published: 11 Aug 2023, 03:25 PM IST
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