India’s Defence Manufacturing Powers Ahead: HAL Revenue Grows 6 Per Cent To Achieve Rs 19,400 Crore Turnover In FY19

India’s Defence Manufacturing Powers Ahead: HAL Revenue Grows 6 Per Cent To Achieve Rs 19,400 Crore Turnover In FY19Hindustan Aeronautics Limited logo (Wikimedia Commons)

HAL posted revenue growth of 6 per cent with a turnover of 19,400 crore for the financial year ending 31 March. The company made 18,000 crore in revenues for the year 2017-2018, Economic Times has reported.

In a press release HAL chairman and managing director R Madhavan, said. "The performance of the company in 2018-19 has encouraged us to focus more on design and development of indigenous products and technologies, develop aerospace and defence manufacturing ecosystem and to be more dedicated towards meeting the current and future requirements of of customers."

For the financial year, the company produced 12 new ALHs against the contract of 40. It carried out overhaul of 213 aircraft or helicopters and 540 engines, manufacturing 41 new aircraft or helicopters and 98 new engines for the year 2017-2018.

It was earlier reported that the HAL had also managed to stick to deadlines when it comes to manufacturing Light Combat Aircraft (LCA) Tejas. Till date HAL has rolled out 16 of the aircraft.