HAL's Q4 profit soars 52% to over ₹4,300 crore
Hindustan Aeronautics Limited (HAL), a leading defense PSU, has announced its consolidated net profit for the quarter ending March 31, 2024. The company reported a significant increase of 52%, with profits reaching ₹4,309 crore compared to ₹2,831 crore in the same quarter of the previous financial year. Sequentially, this represents an impressive leap of 241% from the ₹1,262 crore posted in Q3FY24.
Revenue rises 18%, expenses decrease YoY
HAL's consolidated revenue from operations for the reviewed quarter stood at ₹14,769 crore, marking an increase of 18% from the ₹12,495 crore reported in the corresponding period last year. On a quarter-on-quarter basis, this is a rise of 143% against the ₹6,061 crore posted in Q3FY24. The company also managed to reduce its expenses on a YoY basis to ₹9,543 crore as against ₹10,360 crore incurred in the same period of the previous financial year.
HAL's annual financial performance and market response
For the full financial year, HAL's consolidated profit after tax (PAT) was reported at ₹7,621 crore, an increase from the ₹5,828 crore reported in FY23. The revenue from operations for this period stood at ₹30,381 crore versus the ₹26,927 crore posted by the company in FY23. Following these earnings announcements during market hours, HAL shares surged by 9% on the NSE to hit a fresh 52-week high of ₹4,555.95.
