Public sector aerospace and defence company Hindustan Aeronautics (HAL) on Friday, November 10, reported a marginal year-on-year (YoY) rise in consolidated net profit at ₹1,236.67 crore for the July to September quarter. The same was ₹1,221 crore in the corresponding quarter of last fiscal.

Consolidated revenue from operations rose 9.5% on-year to ₹5,635.7 crore in the quarter under review, compared to ₹5,144.79 crore in September 2022.

Total expenditure rose 18% on-year to ₹4,458 crore during the period under preview. It was ₹3,775.50 crore in the year-ago quarter.

EBITDA (Earnings Before Interest Tax Depreciation and Amortisation), also known as operating profit, fell 5.8% on-year to ₹1527.7 crore in the second quarter.

A joint venture between HAL and HATSOFF Helicopter Training Private Limited made a loss of ₹1 0,166.16 lakh, which resulted in erosion of the net worth. The firm has paid ECB principal of ₹2,200 lakh against ECB overdue instalments. The ECB loan is classified as a non-performing asset by the lending bank.

HAL is engaged in carrying out design, development, manufacture, repair and overhaul of aircraft, helicopter, engines and related systems like avionics, instruments and accessories primarily serving Indian defence programme. As of 30 September 2023, the Government of India held 71.64% stake in the company.

Shares of Hindustan Aeronautics Ltd gained 1.24% to settle at ₹2,056 apiece on the NSE today. The scrip has given returns of 62% since the beginning of this year, while it has risen 66% in the last one year.

First Published:Nov 10, 2023 2:59 PM IST