Bengaluru: Defence public sector unit Hindustan Aeronautics Limited (HAL) posted a strong financial performance registering a growth of 32 per cent on revenue from operations of Rs 3,451 crores for the quarter ended September 2019 as compared to Rs 2,610 crores for the quarter ended September 2018.
The Company’s performance is a result of streamlining the production uniformly so as to even out seasonality of business leading to bunching of revenue during the third and fourth quarters of financial year. This has resulted in uniform revenue in the first two quarters of the current financial year 2019-20 as compared to the corresponding previous period of 2018-19, said a HAL statement.
The Profit After Tax has also registered a growth of 116 per cent of Rs 624 crores for the quarter ended September 2019 as compared to Rs 289 crores for the quarter ended September 2018 primarily due to reduction in the Income Tax rates and re-measuring of its deferred tax liabilities.
HAL is confident of maintaining the similar growth rate in revenue and profit for the current financial year as in previous year 2018-19.
