Hindustan Aeronautics FY16 revenue up 6% to Rs 16,524 cr

Firm focuses on producing components locally instead of importing them, to deliver better numbers

State-run military plane maker Hindustan Aeronautics Ltd on Tuesday said revenue increased by 5.8 per cent to Rs 16,524 crore in fiscal 2015-16 as it produced more locally produced fighters and trainers to the armed forces.

Profit before taxes improved by 1.16 per cent to Rs 3,210 crore as it focused on reducing imports and making systems and components locally.

HAL had reported operating margins of Rs 3,173 crore on revenue of Rs 15,622 crore in 2014-15, a statement by the company said. It saved Rs 126 crore in producing components locally instead of importing them.

HAL produced 12 Sukhoi-30 MkI aircraft from raw material phase and built 17 Hawk trainer in the fiscal which it claims is the highest ever achieved in a year.

HAL produced 60 new aircraft and helicopters during the year. It also serviced 229 helicopters and aircraft and 446 engines during 2015-16

HAL has made a contribution of Rs 4,284 crore to the Government as buyback of 25 per cent of the share capital and free reserves, apart from paying a dividend of Rs 510 crore for 2015-16. The Company's export stood at Rs 401 crore for the year.