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New Delhi: State-owned Defence PSU Hindustan Aeronautics Limited (HAL) said in a regulatory filing on Friday that its board has approved the financial results for the financial year that ended on March 31. As per the filing, HAL's net profit increased from Rs 5,08,650 lakhs in FY22 to Rs 5,81,117 lakhs in FY23, registering a growth of 14.24 percent on y-o-y basis. On q-o-q basis, the net profit of HAL surged from Rs 1,15,399 lakhs in Q3FY23 to Rs 2,84,130 lakhs in Q4FY23, recording an increase of 146.21 percent.
The company's revenue from operations increased from Rs 24,62,021 lakhs in FY22 to Rs 26,92,785 lakhs in FY23, registering a growth of 9.3 percent on y-o-y basis. On q-o-q basis, revenue from operations from Rs 5,66,586 lakhs to Rs 12,49,458 lakhs, registering a growth of 120.52 percent. The total expenditure of the PSU also grew from Rs 20,37,540 lakhs to Rs 22,10,671 lakhs on y-o-y basis while on q-o-q basis, it increased from Rs 4,95,107 lakhs to Rs 10,36 277 lakhs.
The filing also noted, "The Board of Directors of the Company, at its meeting held on March 10 declared a second interim dividend of Rs 20 per equity share. The total interim dividend declared for the Financial Year 2022-23 is Rs 40 per equity share of Rs 10 each fully paid up (400 percent)."
"HAL signed a contract with MoD on March 6 for the supply of 70 HTT 40 Aircraft. As per the contract, Rs 82,824 lakh (excluding taxes) has been sanctioned for the Design and Development of HTT 40 aircrafts. Accordingly, Rs 76,968 lakhs have been recognised as revenue during the year. The development expenditure of Rs 58,518 lakh has been amortised against the revenue recognised," it added.
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