HAL records highest ever revenue of over Rs 24,000 crore in Q3
HAL reported its highest-ever revenue of over Rs 24,000 crores (provisional and unaudited) for the fiscal year ending March 31, 2022, representing a 6% increase over the previous fiscal year. The previous year's similar value was Rs 22,755 crores.
FollowHindustan Aeronautics Limited (HAL) announced a 9.37 per cent increase in net profit to Rs 933.40 crore for the quarter ending December 2021, compared to Rs 853.47 crore profit in the previous fiscal's equivalent period. In the third quarter, revenues increased by 8.60 percent to Rs 5891.90 crore, compared to Rs 5425 crore in the previous fiscal's December quarter. Operating profit increased 18.02 per cent to Rs 1426 crore in the past quarter, up from Rs 1208 crore in the previous fiscal's third quarter.
HAL reported its highest-ever revenue of over Rs 24,000 crores (provisional and unaudited) for the fiscal year ending March 31, 2022, representing a 6% increase over the previous fiscal year. The previous year's similar value was Rs 22,755 crores.
The company was forced to proclaim a staged lockdown at several Divisions throughout April and May 2021 because to the second wave of Covid-19. Employees had worked extra hours in June and July 2021 to make up for lost man-hours owing to the shutdown.
HAL set a new income record by producing 44 new helicopters/aircraft, 84 new engines, and refurbishing 203 aircraft/helicopters and 478 engines. HAL recently received a contract for the manufacturing of 15 Light Combat Helicopters (LCH), ten for the Indian Air Force and five for the Indian Army, at a cost of Rs 3,887 crores, in addition to infrastructure sanctions of Rs 377 crores. Given the increased financial performance throughout the fiscal year, HAL issued an interim dividend of Rs 40 per share, representing 400% of the face value of Rs 10 per share for the fiscal year.
Shares of Hindustan Aeronautics Ltd (HAL) rose more than 3% in early trading after the Ministry of Defence signed two separate contracts for the Indian Air Force and Indian Army for Rs 3,887 crore. HAL's stock reached an intraday high of Rs 1,539, up 3.49 percent on the BSE. In the previous five days, HAL shares have increased 9.54 percent.
