HAL records all-time high turnover of ?19,705 crore

HAL

New Delhi: State-run aerospace major Hindustan Aeronautics Limited (HAL) has posted an all-time high turnover of ?19,705 crore, registering a growth of 7.8% in 2018-19, the company said in a statement Monday.

HAL’s Profit After Tax (PAT) for the fiscal year 2018-19 stood at ?2,282 crore, an increase of 14.8% over ?1,987 crore in the corresponding previous year. An interim dividend of ?662 crore has already been paid by the company for the year 2018-19, it said.

The news augurs well for the company as the aerospace major was earlier this year forced to borrow ?1,000 crore to pay salaries to its employees for the first time in years.

This also led to a political slugfest between the BJP and Congress with the latter alleging that the Centre denied HAL an off-set contract for 36 fighter jets.

“HAL expects fresh orders for Light Combat Aircraft and Light Combat Helicopters in the current financial year,” the statement said.

The Order Book Position of the company as on March 31, 2019 was at ?58,000 crore.

“HAL (standalone) achieved an all-time high turnover of ?19,705 crore, registering a growth of 7.8% for FY 2018-19 over the turnover of ?18,284 crore in the corresponding previous year. The audited results of the Company were approved by HAL’s Board of Directors at its meeting,” the statement added.

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