Bengaluru: Despite challenges, Hindustan Aeronautics Limited (HAL) has achieved significant growth in revenue and profits, a top company official said on Saturday.
"We have recorded the highest ever turnover of Rs 18,28,386 lakhs in 2017-18 financial year compared to previous year's turnover of Rs 17,60,379 lakhs," CMD R Madhavan said in a statement here. HAL had on Friday, held its 55th Annual General Body Meeting of Shareholders, first after its listing.
Profit Before Tax for the year was Rs 3,32,284 lakhs as against Rs 3,58,258 lakhs in previous year, Madhavan said adding the Profit After Tax (PAT) for the year was Rs 2,07,041 lakhs.
HAL produced 40 aircraft and helicopters covering Su-30 MKI, LCA Tejas & Dornier Do-228 in fixed wing and ALH Dhruv and Cheetal Helicopters in rotary wing, Madhavan noted. In addition, HAL produced 105 new engines, overhauled 220 aircraft, helicopters and 550 engines, he said.
Also, as many as 146 new aero-structures for space programs were produced during the period, he added.
The disclosure comes close to the Defence Minister's claims that one of the reason for the deal for 126 Rafale planes falling under the UPA regime was that HAL did not have required capability to produce them. On Thursday, Minister of State for Heavy Industries Babul Supriyo said, HAL had quoted double man power hours to Dassault Aviation for a job that could be done in "100 man-hours".
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