HAL Posts Q4 Profit Following Defence Aircraft Demand

The state-owned aerospace and defence company bagged orders worth Rs 17,600 crore during the quarter, up 135 per cent from a year earlier, per Elara Capital. The company's order inflow includes the supply of 25 Dornier aircraft to the Indian Navy and orders for engines for MiG-29 aircraft, the brokerage said. HAL, whose customers include the Indian Army, Navy and Air Force, along with aerospace corporations Airbus and Boeing, said revenue rose over 18 per cent to Rs 14,769 crore. Its two main businesses are manufacturing defence technology and aircraft maintenance, but it does not give a segment-wise break-up. Its rivals Bharat Electronics and Bharat Dynamics have yet to report March-quarter results. HAL's shares jumped as much as 5.4 per cent after the results.