Hindustan Aeronautics (HAL)'s consolidated net profit fell 1% to Rs 615.19 crore on 40.7% jump in net sales to Rs 4,853.60 crore in Q2 September 2020 over Q2 September 2019.
On a consolidated basis, profit before tax (PBT) surged 71.7% to Rs 826.43 crore in Q2 September 2020 as against Rs 481.29 crore in Q2 September 2019. The Q2 result was declared at the fag end of trading hours yesterday, 13 November 2020.
Hindustan Aeronautics (HAL)'s operations and financial results for the current half year had been impacted by the lockdown imposed to contain the spread of COVID-19. The group's manufacturing facilities were shut down during April 2020. The activities resumed from 28 April 2020 with precautions, reduced availability of manpower and disrupted supply chain, resulting in lower turnover and consequent lower profit.
HAL is engaged in carrying out design, development, manufacture, repair and overhaul of aircraft, helicopter, engines and related systems like avionics, instruments and accessories primarily serving Indian defence programme. As of 30 September 2020, the Government held 75.15% stake in the company.
Shares of HAL were up 1.86% at 774 in the one-hour special Muhurat trading session on the occasion of Diwali on 14 November 2020.
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