Hindustan Aeronautics (HAL) reported 9.2% jump in consolidated net profit to Rs 1,261.51 crore in Q3 FY24 as compared with Rs 1,155.19 crore posted in Q3 FY23.
Revenue from operations stood at Rs 6,061.28 crore in the third quarter of FY24, up 6.98% year on year.Profit before tax was at Rs 1,689.43 crore in Q3 FY24, registering a growth of 39.28% as compared with Rs 12,12.94 crore recorded in corresponding quarter last year.
Total expenses declined 2.27% to Rs 4,838.48 crore in Q3 FY24 as compard with Rs 4951.05 crore in Q3 FY23. Cost of materials consumed stood at Rs 2,806.02 crore (up 36.80% YoY) while employee benefits expense was at Rs 1,300.47 crore (up 14.80% YoY) during the period under review.
On nine months basis, the company's consolidatd net profit jumped 10.53% to Rs 3,312.34 crore on 8.17% increase in revenue from operations to Rs 15,612.33 crore in 9M FY24 over 9M FY23.
Meanwhile, the company's board has declared first interim dividend of Rs 22 per equity share for the financial year 2023-24. The record date for the payment of first interim dividend will be paid on Tuesday, 20 February, 2024.
Hindustan Aeronautics (HAL) is an aerospace and defense company, owned by the government of India. The company develops, designs, manufactures, and supplies aircraft, helicopters, avionics, and communications equipment for military and civil markets.
The scrip slipped 3.36% to Rs 2,865.90 on the BSE.
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