HAL Reports 13% Growth In RFO By March 2024

Hindustan Aeronautics (HAL) saw a significant growth of 13 per cent in its revenue from operations by the end of March 2024, Minister of State for Defence, Sanjay Seth said in the Lok Sabha on Friday.

HAL recorded Rs 26,928 crore in revenue from operations during FY 2022-23 and Rs 30,381 crore in FY 2023-24. Whereas, the company reported a turnover of Rs 28,162 crore for the Financial Year 2023-24.

The increase in revenue indicates HAL's robust growth trajectory and underscores its strategic initiatives to enhance operational efficiencies and expand its market presence.

HAL has been focusing on strengthening its manufacturing capabilities, investing in research and development and expanding its product portfolio to meet the growing demands of the defence sector. The company's recent achievements include advancements in indigenous aircraft production, collaboration with international aerospace firms, and significant contributions to the Indian Air Force's modernisation programs.

Minister Seth highlighted HAL's contribution to India's self-reliance in defence manufacturing, aligning with the government's 'Make in India' initiative. The company's focus on innovation and technology development is expected to drive further growth and open new avenues for international collaborations.