From Our Special Correspondent
Daijiworld Media Network
Bengaluru, May 27: Public sector undertaking HAL has achieved an all-time high turnover of Rs. 19,705 crore, registering a growth of 7.8% for the financial year 2018-19 over the turnover of Rs 18,284 crore in the corresponding previous year.
The audited results of the company were approved by HAL’s Board of Directors at its meeting held here on Monday, May 27.
HAL’s Profit After Tax (PAT) for the FY 2018-19 stood at Rs. 2,282 crore, an increase of 14.8% over Rs. 1,987 crore in the corresponding previous year.
An interim dividend of Rs. 662 crore has already been paid by HAL for the year 2018-19.
The Order Book Position of the Company as on March 31, 2019 was at Rs. 58,000 crore.
HAL expects fresh orders for Light Combat Aircraft and Light Combat Helicopters in the current financial year.
Meanwhile, HAL recommenced flight testing of modified Intermediate Jet Trainer (IJT) yesterday from its Bengaluru facilities.
The flight was flawless and its success is an important step towards the IJT programme.
The flight testing of IJT (HJT36), designed and developed by HAL for the stage-II training of IAF pilots was put on hold after the aircraft had encountered problem in the spin test flights in the year 2016.
“HAL continued its R&D efforts and undertook modification of IJT LSP4 aircraft based on extensive and comprehensive wind tunnel studies”, said R. Madhavan, CMD, HAL.
HAL’s research, design and technical teams carried out the modifications required with more challenges ahead.