Insta
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
IANS
Nov 13, 2019, 08:29 PM | Updated 08:29 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
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.)
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.