HAL registers record-high turnover in FY 2018-19

Hindustan Aeronautics Limited (HAL) on Monday said it has achieved an all-time high turnover of Rs. 19,705 crores, registering a growth of 7.8 per cent for the financial year 2018-19.

HAL's turnover in the previous year stood at Rs 18,284 crores. The audited results of the company were approved by HAL's Board of Directors at its meeting held here today.

"HAL's Profit After Tax (PAT) for the financial year 2018-19 stood at Rs. 2,282 crores, an increase of 14.8 per cent over Rs. 1,987 crores in the corresponding previous year. An interim dividend of Rs. 662 crores has already been paid by HAL for the year 2018-19," the Defence PSU said in a statement.

The Order Book Position of the company as on March 31 this year was at Rs. 58,000 crores.

The PSU said that it expects fresh orders for Light Combat Aircraft (Tejas) and Light Combat Helicopters in the current financial year.

The NDA government at the Centre was severely criticised by Congress president Rahul Gandhi for allegedly bypassing HAL to favour private companies in the Rafale deal signed with French company Dassault Rafale. The critics of the government alleged that bypassing led to the loss of several crores of the HAL.

The government, had, however, maintained that it was not feasible for HAL to participate in the deal given the limited number (36) of aircraft involved.

However, the government vehemently denied the allegations and had told Parliament that the PSU would be receiving orders worth Rs 1 lakh crore.