Hindustan Aeronautics Limited (HAL) on August 14 reported that its Q1FY25 consolidated net profit rose 77 per cent year-on-year to Rs 1,437 crore from Rs 814 crore in the same period last year. The PSU defense major’s consolidated revenue from operations in the April-June quarter rose 11 per cent to Rs 4,348 crore from Rs 3,915 crore a year ago.
Total income in the quarter under review increased by almost 18 percent to Rs 5,083 crore. In the year-ago period it was reported to be Rs 4325 crore. There was a slight increase in the company’s expenses in the June quarter to Rs 3,506 crore from Rs 3,239 crore a year ago.
For the quarter, earnings before interest, taxes, depreciation and amortization (EBITDA) grew 13 per cent year-on-year to Rs 994 crore.
The board of directors of the company in its last meeting held on June 26 had recommended a final dividend of Rs 13 per equity share for the financial year 2023-24, which is equivalent to 260 per cent of the face value of Rs 5 per equity share. The final dividend was in addition to the interim dividend of Rs 22 per equity share.
At 2:30 pm on August 14, shares of the defense stock were trading at Rs 4,649, down over 1 per cent.
Hindustan Aeronautics has been in focus under Prime Minister Narendra Modi’s push for self-reliance (self-reliant India), which has helped the company bag major defense and manufacturing orders. In May this year, ahead of the general elections, Modi highlighted the impressive performance of PSU stocks, citing the example of HAL. “Look at HAL (Hindustan Aeronautics Limited) – it has made a record profit of Rs 4,000 crore in the fourth quarter,” he said.
In April this year, the company received an order from the Defense Ministry to manufacture 97 Light Combat Aircraft (LCA Mk-1A) Tejas for the Indian Air Force, which will cost approximately Rs 67,000 crore. The Bengaluru-headquartered company’s order book shows a promising outlook with huge orders worth Rs 94,000 crore till March 31, 2024.
HAL Q1 results: Net profit expansion 77% to Rs 1,437 crore
