HAL rises as Q2 PAT jumps 44% YoY to Rs 1,221 cr

Hindustan Aeronautics (HAL) gained 2.11% to Rs 2,482.90 after the company reported 44.2% jump in consolidated net profit to Rs 1,221.22 crore in Q2 FY23 as compared to Rs 846.74 crore posted in Q2 FY22.

Revenue from operations fell 7.3% year on year to Rs 5,144.79 crore in the quarter ended 30 September 2022.

Consolidated profit before tax increased by 43.5% to Rs 1,630.64 crore in Q2 FY23 as against Rs 1,136.27 crore in Q2 FY22.

Total expenditure declined 17.1% year-on-year to Rs 3,775.50 crore during the period under preview. Cost of materials consumed was Rs 1,733.84 crore (down 19.5% YoY) while employee benefit expenses stood at Rs 1,144.69 crore (up 6.57% YoY) in Q2 FY23.

Meanwhile, the company's board declared an interim dividend of Rs 10 per equity share for the financial year 2022-23. The record date for the payment of interim dividend is Monday, 21 November 2022.

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 2022, the Government of India held 75.15% stake in the company.

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