State-run HAL posts 6% higher revenue in 2018-19

State-run Hindustan Aeronautics Ltd (HAL) on Monday reported revenue of Rs 19,400 crore (provisional) for the just-concluded financial year 2018-19, registering 6 per cent annual growth over Rs 18,284 crore on this account in fiscal 2017-18.

In fiscal 2017-18, the annual revenue growth was 3.8 per cent over 2016-17.

"The performance in fiscal 2018-19 has encouraged us to focus on design and development of indigenous products and technologies, as well as develop aerospace and defence manufacturing eco-system," said HAL Chairman and Managing Director R. Madhavan in a statement here.

The city-based defence behemoth produced 41 aircraft and helicopters and 98 aero engines, besides overhauling 213 aircraft and 540 aero engines during the fiscal under review.

The company hopes to secure an 'excellent' rating for the fiscal under review from the government for meeting all the parameters related to its performance.

"Our strategy will help the company to be on the growth track in meeting the expectations of all stake shareholders," Madhavan added.

The company also rolled out 12 'Dhruv' Advanced Light Helicopters (ALHs) during the year in review as part of the contract to deliver 40 of these for the Indian Air Force and the Indian Army.

The company's scrip with face value of Rs 10 was trading at Rs 716.30 during Monday's afternoon trade on the BSE, up Rs 6.30 per share on its previous closing rate of Rs 709.80.

--IANS

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