HAL Shares: Following the announcement of a 52.18% year-on-year (YoY) increase in its net profit for the quarter ending March 31, 2024, at ₹4,308 crore, Hindustan Aeronautics (HAL) finished almost 10% higher on Thursday.
While profits before interest, tax, depreciation and amortization (EBITDA) for the quarter jumped 82% YoY to ₹5,913 crore, the consolidated total revenue grew 16% YoY to ₹15,236 crore.
At ₹7,621 crore, the corporation reported a 31% YoY increase in net profit for the financial year 2024. At ₹32,278 crore, the company’s overall income for the year came in 13% YoY higher. As per Upstox, rising 46%, the EBITDA for the financial year came to ₹9,741 crore. Comparatively, to last year’s ₹87.14, the profits per share (EPS) for this year came at ₹113.95. HAL’s cash and cash equivalents at the end of FY24 dropped 4.19% YoY at ₹4, 254 crore.
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The Indian Government has lately sent HAL a proposal for 34 new advanced light helicopters. The firm got a contract with the Guyana Defence Forces for two Hindustan 228 aircraft in addition to orders valued at ₹19,000 crore in FY24.
HAL got a ₹19,500 crore contract for its BhramMos missiles after the Cabinet Committee of Security (CCS) nodded for defence transactions at ₹35,000 crore in February.
The government-run aerospace and defense company HAL is based in Bangalore. HAL’s main activity is designing, manufacturing, and supplying aircraft, helicopters, and associated equipment for the civilian and military sectors. HAL is also involved in aviation maintenance and repair businesses.
Since the beginning of the year, Hindustan Aeronautics’ share price has climbed over 64.49%; during the year, it has gained 171.06%. The stock has risen 200.25% during the past five years and now enjoys a multi-bagger distinction.
