HAL posts record Rs 19,400 crore turnover, IAF still to pay bills

Despite pending payments of over Rs 20,000 crore, HAL revenue grew 6% against the previous year

Hindustan Aeronautics Limited (HAL), which has faced concerted criticism over the past year from both the defence ministry and the Indian Air Force (IAF), has announced a record turnover of over Rs 19,400 crore (provisional and unaudited) for the financial year that ended March 31.

This amounts to 6 per cent revenue growth over the previous year’s turnover of Rs 18,284 crore. 

That comfortably beat the revenue growth of 3.8 per cent during 2017-18.

However, the IAF still owes HAL about Rs 20,000 crore in unpaid dues for aircraft delivered and overhauled and for milestone payments due, Business Standard has learnt.

In January, HAL