India’s lone aircraft-maker records 32% revenue growth in 2Q

Bengaluru: India’s lone aircraft-maker Hindustan Aeronautics Limited (HAL) has posted a 32 per cent revenue growth in the second quarter of the current financial year compared to the same period in the last fiscal.

The revenue from operations was Rs. 3,451 crore ($479 million) in the quarter ending Sep. 31 this year. In the same quarter in 2018, HAL had a revenue of Rs 2,610 crore ($262 million).

The Profit After Tax has also registered a growth of 116 per cent of Rs 624 crore ($87 million) for the quarter ended Sep. 2019 as compared to Rs 289 crore ($40 million) for the quarter ended Sep. 2018, “primarily due to reduction in the Income Tax rates and re-measuring of its deferred tax liabilities,” the company, owned by the Ministry of Defence, said in a statement today.

“The company’s performance is a result of streamlining the production uniformly so as to even out seasonality of business leading to bunching of revenue during the third and fourth quarters of financial year,” it said.

This has resulted in uniform revenue in the first two quarters of the current financial year 2019-20 as compared to the corresponding period of 2018-19.

“HAL is confident of maintaining the similar growth rate in revenue and profit for the current financial year as in previous year 2018-19,” it added.

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