HAL rises on registering highest-ever revenue of Rs 29,810 cr in FY24

Hindustan Aeronautics (HAL) added 2.83% to Rs 3,421.40 after the aerospace company announced that it has recorded the highest ever revenue from operations of over Rs 29,810 crore for the financial year ended on 31 March 2024.

The revenue for FY24, registered a double digit growth of up to 11% year on year from Rs 26,928 crore recorded in the previous financial year.

C. B. Ananthakrishnan, CMD (addl charge) of Hindustan Aeronautics, said, Despite the major supply chain challenges arising due to geopolitical issues, the company has met the expected revenue growth with improved performance for the entire year. As on 31 March 2024, company's order book stands in excess of Rs 94,000 crore with additional major orders expected during FY 2024-25.

HAL received fresh manufacturing contracts of over Rs 19,000 crore and ROH contracts of over Rs 16,000 crore during FY 2023-24.

HAL with a robust order book and accelerated delivery plan is expected to sustain and improve the growth trajectory and support the Indian Defence services in their endeavor towards defence preparedness of the country, the company stated in a filing.

Hindustan Aeronautics (HAL) is an aerospace and defense company, owned by the government of India. The company develops designs, manufactures, and supplies aircraft, helicopters, avionics, and communications equipment for military and civil markets.

The companys consolidated net profit increased 9.2% to Rs 1,261.51 crore on 6.98% rise in revenue from operations stood to Rs 6,061.28 crore in Q3 FY24 over Q3 FY23.

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