HAL Profit Jumps Nearly 15% on Strong Defence Execution
India’s state-run Hindustan Aeronautics Ltd (HAL) reported a nearly 15% rise in first-quarter profit, supported by strong execution of defence orders and steady progress in project deliveries. The aerospace and defence company posted a June-quarter net profit of ₹15.90 billion ($166.66 million), compared with ₹13.84 billion a year earlier.
HAL’s revenue from operations increased 14.4% to ₹55.15 billion, while total expenses rose 15.3% to nearly ₹43 billion. Investors responded positively, sending HAL shares up as much as 3% before gains eased, with the stock trading about 1.2% higher after the results.
The company is benefiting from growing global demand for military aircraft, missiles, anti-drone systems and other defence equipment amid heightened geopolitical tensions. HAL manufactures aircraft, helicopters, engines, avionics and unmanned aerial vehicles, with its Tejas fighter programme among its key projects. However, the programme has faced delays, partly due to supply-chain issues affecting engine deliveries from U.S. partner General Electric.
Pic courtesy: google/ images are subject to copyright
