You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

HAL Q1 PAT falls 74% to Rs 149 cr

Capital Market 

Hindustan Aeronautics (HAL)'s consolidated net profit dropped 74% to Rs 148.65 crore in Q1 June 2020 compared with Rs 564.69 crore in Q1 June 2019.

Consolidated net sales for Q1 June 2020 stood at Rs 1736.74 crore, a 47% decline compared with Rs 3289.47 crore in Q1 June 2019. The company said it operations for the current quarter were impacted by the lockdown imposed to contain the spread of COVID-19. The Group's manufacturing facilities were shut down during April 2020. The activities resumed from 28th April 2020 with precautions, reduced availability of manpower and disrupted supply chain, resulting in lower turnover and consequent lower profit.

Profit before tax (PBT) fell 74% to Rs 214.81 crore in Q1 June 2020 over Q1 June 2019. Total tax expense dropped 74% to Rs 66.16 crore during the period under review. The result was announced after market hours yesterday, 10 September 2020.

Shares of Hindustan Aeronautics were down 0.16% at Rs 863.40. The scrip trade in the range of Rs 834 to Rs 875 so far during the day.

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

After recent offer for sale, the Government holds 74% stake in the company.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

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.

Digital Editor

First Published: Fri, September 11 2020. 09:32 IST