New Delhi, May 16 (SocialNews.XYZ) Government-owned defence major Hindustan Aeronautics Ltd (HAL) on Thursday reported a 52 per cent jump in net profit to Rs 4,308 crore for the January-March quarter of 2023-24.
The company's revenue from operations rose 18 per cent to Rs 14,768.70 crore in the fourth quarter from Rs 12,494 crore in the same period last year.
HAL’s margins during the quarter went up to 35 per cent from 25.9 per cent in the same period last year.
The company also registered an 8 per cent decline in its to Rs 9,543 crore in q4 from Rs 10,360 crore in the same period last year.
For the financial year 2023-24, HAL's consolidated net profit increased 31 per cent to Rs 7621 crore crore as compared to the corresponding figure of Rs 5,828 crore in 2022-23.
Revenue from operations during the year increased 13 per cent to Rs 30,381 crore from Rs 26,927 crore in the previous year.
“Despite the major supply chain challenges arising due to geopolitical issues, the company has met the expected revenue growth with improved performance for the entire year.
As of March 31, 2024, the company’s order book stands in excess of Rs 94,000 crore with additional major orders expected during FY25," said C.B. Ananthakrishnan, CMD (Addl Charge), HAL.
HAL received fresh manufacturing contracts of over Rs 19,000 crore and ROH contracts of over Rs 16,000 crore during FY24.
An export contract with Guyana Defence Forces for the supply of two Hindustan-228 aircraft was signed in FY24 and both the aircraft have been supplied in record time within a month of the signing of the contract, the company said.
Source: IANS
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