HAL net down 17% in Q3

Bengaluru  :  State-run Hindustan Aeronautics Ltd (HAL) on Monday reported a standalone net profit of Rs 455 crore for the third quarter of 2018-19, a 17 per cent decline from Rs 549 crore in the same period a year ago.

In a regulatory filing on the BSE after trading hours, the city-based defence major said standalone revenue from operations, however grew 3.4 per cent annually to Rs 4,425 crore for the quarter under review from Rs 4,278 crore in the like period a year ago.

Sequentially, net profit zoomed 57 per cent in Q3 from Rs 289 crore and revenue shot up 69.5 per cent from Rs 3,610 crore a quarter ago.

"Standalone profit before tax also declined 19 per cent annually in Q3 to Rs 684 crore from Rs 845 crore but grew 27 per cent sequentially from Rs 453 crore a quarter ago."

HAL's scrip of Rs 10 face value gained Rs 7.15 at the end of Monday's trading on the BSE to close at Rs 661.55 as against Friday's closing rate of Rs 654.40 and opening price of Rs 655.