State-run defence major Hindustan Aeronautics Ltd (HAL) on Wednesday reported Rs 621-crore net profit for the second quarter (Q2) of fiscal 2019-20, registering a 116 per cent annual growth from Rs 287 crore in the same period a year ago.
Sequentially, net profit, however, rose 10 per cent to Rs 621 crore from Rs 564 crore a quarter ago.
The city-based aerospace firm said in a statement that revenue from sales grew 32 per cent annually to Rs 3,451 crore from Rs 2,610 crore in the like period a year ago.
"Our performance is a result of streamlining the production to even out seasonality of business leading to bunching of revenue during the third and fourth quarters of a fiscal," said the statement.
Sequentially, revenue rose 5 per cent to Rs 3,451 crore from Rs 3,291 crore a quarter ago.
Though the company filed the quarterly results on the BSE on November 11, it shared the details with the media belatedly on Wednesday.
HAL shares with a face value of Rs 10 closed at Rs 802.25 on Wednesday on the BSE.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.