scorecardresearch
HAL share rallies 5% after firm clocks record revenue in FY21

HAL share rallies 5% after firm clocks record revenue in FY21

HAL share touched an intraday high of Rs 1,051.3, rising 5.67% on BSE

HAL stock opened with a gain of 2.03% today against  previous close of Rs 994.85 on BSE. HAL stock opened with a gain of 2.03% today against previous close of Rs 994.85 on BSE.

Hindustan Aeronautics (HAL) share rose 5 percent on April 1 after the state owned defence firm reported all-time high revenue of over Rs 22,700 crore for the fiscal ended March 31, 2021. HAL stock opened with a gain of 2.03% today against  previous close of Rs 994.85 on BSE.

The share touched an intraday high of Rs 1,051.3, rising 5.67% on BSE. It stands higher than 5 day, 50 day, 100 day and 200 day moving averages but lower than 20 day moving averages. The share has gained 94.15% in one year and risen 22.19% since the beginning of this year. Later, the stock closed 3.96% higher at Rs  1034.25 on BSE. Market cap of the firm rose to Rs 34,541 crore.

The feat of clocking record revenue came even as operations were affected by production shut-downs and supply chain disruptions after the COVID-19 outbreak.

"In spite of the pandemic that affected company's operations and disrupted the supply chain (both within and outside the country), HAL recorded a revenue in excess of Rs 22,700 crore (provisional and unaudited) for the financial year ended on March 31, 2021," the company said in a filing to the BSE. "The corresponding figure for the previous year stood at Rs 21,438 crore. It posted a revenue growth of around 6 percent in FY 2020-21 thanks to the improved productivity after suspending the operations for one month in the beginning of the year," the company added.

 In Q3 of last fiscal, the company reported doubling of its net profit to Rs 853 crore against Rs 425 crore in the year-ago quarter. Sequentially, net profit rose 39 per cent from Rs 613 crore in the preceding July-September quarter.

Share Market Highlights: Sensex ends 520 pts higher, Nifty at 14,867; IndusInd, Kotak, ICICI Bank lead

Total income climbed 23 per cent year-on-year (YoY) to Rs 5,518 crore during the December quarter. On a quarter-on-quarter (QoQ) basis, it increased 12 per cent from Rs 4,941 crore in September quarter.

Total expenses rose 14 per cent YoY to Rs 4,449 crore during October-December quarter.

Indian Overseas Bank, Bank Of India, Central Bank, UCO Bank shares rise after govt infuses Rs 14,500 cr

Written by  Aseem Thapliyal