Defence public sector giant Hindustan Aeronautics Ltd (HAL) on Saturday said its net profit has surged 52% to Rs 4,308 crore for the January-March quarter of fiscal 2023-24.
The company's revenue from operations during the fourth quarter rose by 18% to Rs 14,768.70 crore from Rs 12,494 crore in the corresponding period of the previous year.
HAL's margins for the quarter scaled up to 35% from 25.9% in the same quarter last year.
However, the company's order intake saw a minor dip of 8% to Rs 9,543 crore in Q4 from Rs 10,360 crore in the same period last year.
For the full fiscal 2023-24, HAL's consolidated net profit rose 31% to Rs 7,621 crore, against Rs 5,828 crore last fiscal. Revenue from operations for the entire fiscal was also up 13% at Rs 30,381 crore from Rs 26,927 crore in the previous fiscal.
Talking about the performance, C.B. Ananthakrishnan, CMD (Additional Charge), HAL said, "Despite facing severe supply chain headwinds on account of geopolitical issues, the company has been able to achieve expected revenue growth and also to enhance overall performance for the fiscal year."
The order book of the company as on March 31, 2024, continues to be robust at over Rs 94,000 crore, with hopes for bagging fresh major orders in the next fiscal, FY25.
HAL has won fresh manufacturing contracts in excess of Rs 19,000 crore and Repair and Overhaul (ROH) contracts in excess of Rs 16,000 crore in FY24.
In a major breakthrough, HAL bagged an export order from the Guyana Defence Forces for the supply of two Hindustan-228 aircraft during FY24. Both aircraft were delivered within a record time frame of one month from the date of signing the contract.
This forms a great achievement, underlining the commitment of HAL to excellence and bringing out its capability in delivering quality products efficiently.
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