HAL recorded profit of Rs 2,070 crore in 2017-18; revenue rose by 3%

Hindustan Aeronautics Limited (HAL) recorded a profit of Rs 2,070 crore in 2017-18, seven per cent less than previous year, the government said on Monday.

In a written response in Rajya Sabha, Minister of State for Defence Shripad Naik said in 2016-17, HAL saw a revenue of Rs 17,950 crore from operations. It rose by three per cent in 2017-18 to Rs 18,519 crore.

In 2016-17, HAL recorded profits to the tune to Rs 2,606 but it declined by seven per cent, registering a profit of Rs 2,070 crore.

HAL manufactures aircraft, including helicopters, for the armed forces.

Replying to another question, Naik said the Defence Research and Development Organisation (DRDO) develops systems and equipments for the armed forces in various technology domains.

A total of 39 different systems, equipment worth over Rs 95,062.08 crores designed and developed by the DRDO, have been approved for induction into the services during the last three years.

These systems include various types of platforms, sonars, radars, software defined radios, missile systems, gun systems, munitions, bridging equipment he added.

In response to a question on the status of the proposed Coast Guard Academy in Azheekkal, Naik said since the Ministry of Environment, Forest and Climate Change has denied grant of Environment and Coastal Regulation Zone (CRZ) clearances the project has been dropped.