Home / News / India /  HAL net profit up 23.8% to 1,155 cr in Q3; shares fall

State-owned Hindustan Aeronautics Limited on Thursday reported a net profit of 1,155.2 crore, up 23.8% year-on-year as against 933.4 crore reported in the year-ago period. Shares of Hindustan Aeronautics Ltd were trading 2.22% lower at 2,379.70 apiece on BSE during late deals on Thursday.

Revenue from Operations fell 3.9% to 5,665.5 crore in the December quarter as compared to 5,893.8 crore in the corresponding quarter of last year.

EBITDA or Earnings Before Interest, Taxes, Depreciation, and Amortization dropped 31% to 985.5 crore in Q3FY23 as against 1,428.5 cr YoY, with a margin of 17.4%.

Total expenses of the aerospace company rose 2% to 4,951 crore for the quarter under review. This was 4,840 crore in the corresponding quarter of last year.

Earlier, Prime Minister Narendra Modi spoke about the success of HAL at a ceremony to dedicate India's largest helicopter manufacturing facility in Karnataka's Tumakuru.

"HAL was used as an excuse to level false allegations against the government. A conspiracy was launched to use its name to provoke people that wasted hours and hours of parliament time. (But) no matter how big the lie is, how many times it is repeated and who ever makes it, it loses in front of the truth one day," PM Modi had said.

The prime minister also said that the HAL facility will generate business worth over 4 lakh crore in the coming years and will supply a variety of helicopters to the armed forces.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Recommended For You
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout