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Aerospace major HAL records all-time high turnover of Rs 19,705 crore

The aerospace major was earlier this year forced to borrow Rs 1,000 crore to pay salaries to its employees for the first time in years

twitter-logo PTI        Last Updated: May 27, 2019  | 22:12 IST
Aerospace major HAL records all-time high turnover of Rs 19,705 crore
Image Source: Hal-india.co.in

State-run aerospace major Hindustan Aeronautics Limited (HAL) has posted an all-time high turnover of Rs 19,705 crore, registering a growth of 7.8 per cent in 2018-19, the company said in a statement Monday.

HAL's Profit After Tax (PAT) for the fiscal year 2018-19 stood at Rs 2,282 crore, an increase of 14.8 per cent over Rs 1,987 crore in the corresponding previous year. An interim dividend of Rs 662 crore has already been paid by the company for the year 2018-19, it said.

The news augurs well for the company as the aerospace major was earlier this year forced to borrow Rs 1,000 crore to pay salaries to its employees for the first time in years.

This also led to a political slugfest between the BJP and Congress with the latter alleging that the Centre denied HAL an off-set contract for 36 fighter jets.

"HAL expects fresh orders for Light Combat Aircraft and Light Combat Helicopters in the current financial year," the statement said.

The Order Book Position of the company as on March 31, 2019, was at Rs 58,000 crore.

"HAL (standalone) achieved an all-time high turnover of Rs 19,705 crore, registering a growth of 7.8 per cent for FY 2018-19 over the turnover of Rs 18,284 crore in the corresponding previous year. The audited results of the Company were approved by HAL's Board of Directors at its meeting," the statement added.

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