Hindustan Aeronautics net profit drops 9 pc to Rs 2,831 cr in fourth quarter

New Delhi [India], May 12 : Hindustan Aeronautics Ltd (HAL) on Friday posted a 9 per cent drop in its net profit to Rs 2,831 crore for the quarter ended March 31, 2023, against Rs 3,105 crore in the year-ago period.

Revenue from operations of the firm jumped 8 per cent to Rs 12,494 crore for the quarter ended March, against Rs 11,558 crore in the corresponding quarter of last year.

Profit, on a sequential basis, more than doubled from Rs 1,155 crore reported in the preceding December quarter. Revenue jumped 120 per cent quarter-on-quarter (QoQ), according to the statement shared with stock exchanges.

The company also said revenue from operations surged 8 per cent year-on-year to Rs 12,494 crore for the quarter ended March, against Rs 11,558 crore in the corresponding quarter of last year.

The company has posted earnings before interest, tax, depreciation and amortisation (EBITDA) of Rs 3,242 crore during the January-March period, which is higher by 29 per cent, compared with Rs 2,495 crore in the year-ago period.

For the reviewed quarter, the company's expenses rose 9 per cent to Rs 10,360 crore, against Rs 9,486 crore a year ago.

Margins in the reviewed improved to 25.9 per cent, against 21.6 per cent a year ago.

For FY23, HAL's consolidated net profit increased 14 per cent to Rs 5,828 crore as compared to Rs 5,080 crore posted in FY22.

During 2022-23, revenue from operations during the year jumped 9 per cent to Rs 26,927 crore. The same stood at Rs 24,620 crore in fiscal 2022.