Public sector defence unit Hindustan Aeronautics Ltd (HAL) has posted a profit of Rs 105 crore for 1996-97 as compared to a profit of Rs 86 crore in 1995-96.
This indicates a 22 per cent growth over last year.
HAL has reported a turnover of Rs 1,725 crore during the year ended March 31, 1997 when compared to Rs 1567 crore in the corresponding period of 1995-96. This indicates an increase of 10 per cent over the last year.
Claiming that 1996-97 has been another successful year for the public sector unit, HAL said there have been many significant improvements in all the financial parameters indicating the overall healthy condition of the company.
Both the joint ventures of HAL have posted profits, a spokesperson added.
HAL functions under the Department of Defence Production and Supplies.
During the year, HAL exported goods and services to 15 countries.
Thailand was the latest entrant to the list. The total exports stood at Rs 33 crore.
The repair and overhaul line of MiG-27 has been set up and the deliveries have started, the spokesman said.
He stated that for the fourth consecutive year, HAL had won the regional top exporters shield for 1994-95. This was awarded in November 1996 by the Engineering Export Promotion Council.
HAL had also been adjudged excellent for 1995-96 - a record fifth year in a row based on its performance with the ministry.
