HAL turnover up 6% at Rs 19,400 crore in 2018-19

Government-owned Hindustan Aeronautics Limited (HAL) said on Monday its turnover totalled Rs 19,400 crore during the financial year ended on March 31 against Rs 18,284 crore in the previous year.

The public sector company posted a revenue growth in excess of 6 per cent during 2018-19 as compared to 3.8 per cent during 2017-18.

In FY 19, HAL produced 41 new aircraft and helicopters besides 98 new engines. It carried out overhaul of 213 aircraft and helicopters besides 540 engines.

"HAL produced 12 new advanced light helicopters against the contract of 40, out of which six were produced ahead of schedule for the Indian Army," said an official statement. "HAL's research and development projects are on track and are tailor-made for the requirement of armed forces."

Chairman and Managing Director R Madhavan said the company will focus more on design and development of indigenous products and technologies, develop aerospace and defence manufacturing eco-system and to be more dedicated towards meeting the current and future requirements of customers.

"This strategy will also help HAL to be on the growth track in meeting the expectations of the shareholders," he said adding the company expects continued 'excellent' MoU rating from the government.

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