New Delhi, Feb 12 Government-owned Hindustan Aeronautics Ltd (HAL) on Wednesday reported a robust 14 per cent increase in consolidated net profit at Rs 1,440 crore for the October-December quarter of the current financial year compared to the corresponding figure of Rs 1,261 crore in the same period of 2023-24.
The defence PSU has declared a first interim dividend of FY25 at Rs 25 per equity share of Rs 5 face value. "The record date for the payment of the first interim dividend will be Tuesday, the 18th of February, 2025. The dividend will be paid to all the eligible shareholders on or before 14th March 2025," according to a regulatory filing by the company.
HAL’s revenue from operations registered a double-digit growth of 15 per cent to Rs 6,957 crore compared to Rs 6,061 crore in Q3FY24, on the back of a strong order book from the Defence Ministry.
Meanwhile, HAL chairman and managing director D K Sunil has said that the deliveries of the Light Combat Aircraft (LCA) Tejas would commence soon as the technical issues that were causing the delay have now been resolved.
The fourth-generation fighter jet, developed by HAL, is designed to replace the ageing fleet of MiG-21s, but the IAF chief Amar Preet Singh has been complaining about the defence PSU not meeting its deadlines for delivering the plane.
“There have been technical issues, which have now been sorted out. The concern of the Air Chief is understandable,” Sunil told journalists at the Aero India show in Bengaluru.
Sunil said HAL has been working closely with all stakeholders to speed up the process.
“We have now promised that we will have all the structures ready. We have conveyed this at multiple meetings. And once the engines are available, this will start rolling out…There is no doubt about that. As a team, all of us are focused and we will start delivering the aircraft,” he added.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor