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Bengaluru: HAL records strong second quarter performance with 32% growth

  •   Wed, Nov 13 2019 05:10:46 PM

From Our Special Correspondent
Daijiworld Media Network

Bengaluru, Nov 13: Defence public sector undertaking HAL has posted a strong financial performance registering a growth of 32% on revenue from operations of Rs 3451 crore for the second quarter ended September 2019 as compared to Rs. 2610 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.

The Profit After Tax has also registered a growth of 116% of Rs 624 crore for the quarter ended September 2019 as compared to Rs 289 crore 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., says a company press release.
  

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