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HAL reports rise in Q4 FY24 profit due to increased demand for defence aircraft

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In Short:

Hindustan Aeronautics Ltd (HAL) reported a 52% increase in fourth quarter profit, reaching ₹4,309 crore, due to demand from the defence ministry. The company secured orders worth ₹17,600 crore, including supplying Dornier aircraft to the Indian Navy. HAL’s revenue increased by 18% to ₹14,769 crore. It focuses on manufacturing defence technology and aircraft maintenance. Its stock rose 10.03% on Thursday.

Hindustan Aeronautics Ltd soars with a 52% rise in Q4 profit!

Imagine building something so incredible that even the sky is not the limit! Hindustan Aeronautics Ltd (HAL) did just that, reporting a whopping 52% rise in fourth-quarter profit on Thursday.

The Rise to Success

Thanks to the soaring demand for its aircraft from the country’s defence ministry, HAL’s consolidated net profit reached an impressive ₹4,309 crore for the three months ended March 31. Talk about reaching new heights!

A Year of Success

Throughout fiscal 2024, HAL has been riding high on the Indian government’s push for higher capital expenditure. This wave of success extended into the fourth quarter, bringing in orders worth ₹17,600 crore – a staggering 135% increase from the previous year, as highlighted by Elara Capital.

Orders Galore!

The state-owned aerospace and defence company has been bagging orders left, right, and center. From supplying 25 Dornier aircraft to the Indian Navy to receiving orders for engines for MiG-29 aircraft, HAL is on a roll!

Customers and Revenue

HAL’s impressive clientele includes the Indian Army, Navy, and Air Force, along with aerospace giants Airbus and Boeing. This led to a remarkable 18% increase in revenue, totaling ₹14,769 crore. Talk about spreading your wings!

What Lies Ahead

HAL’s two main business segments – manufacturing defence technology and aircraft maintenance – are keeping the company on a steady trajectory towards success. Although it doesn’t provide a segment-wise break-up, HAL is clearly flying high!

Looking to the Future

While rivals Bharat Electronics and Bharat Dynamics are yet to report their March-quarter results, HAL’s shares closed 10.03% higher at ₹4603.40 on the BSE on Thursday, reflecting the confidence and trust investors have in this aerospace powerhouse.

Having set its sights on the sky, Hindustan Aeronautics Ltd is proving that with determination, dedication, and a strong vision, you can truly reach for the stars!

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