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HAL Reports 116 Per Cent Growth In Net Profit Year On Year To Rs 621 Crore For Q2 FY20, Revenue Now At Rs 3,451 Crore
The Dornier 228 built by HAL. (@siddhathk63/Twitter)
State-run defence major Hindustan Aeronautics Ltd (HAL) on Wednesday (13 October) reported Rs 621-crore net profit for the second quarter (Q2) of fiscal 2019-20, registering a 116 per cent annual growth from Rs 287 crore in the same period a year ago.
Sequentially, net profit, however, rose 10 per cent to Rs 621 crore from Rs 564 crore a quarter ago.
The Bengaluru-based aerospace firm said in a statement that revenue from sales grew 32 per cent annually to Rs 3,451 crore from Rs 2,610 crore in the like period a year ago.
"Our performance is a result of streamlining the production to even out seasonality of business leading to bunching of revenue during the third and fourth quarters of a fiscal," said the statement.
Sequentially, revenue rose 5 per cent to Rs 3,451 crore from Rs 3,291 crore a quarter ago.
Though the company filed the quarterly results on the BSE on November 11, it shared the details with the media belatedly on Wednesday.
HAL shares with a face value of Rs 10 closed at Rs 802.25 on Wednesday on the BSE.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)
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