New Delhi, May 16 (IANS) 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.
–IANS
sps/arm
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
