Hindustan Aeronautics logs 77% y-o-y jump in Q1 net profit

16 Aug 2024 , 01:48 PM

Hindustan Aeronautics (HAL) shares surged 3% to a day high of ₹4,787.70 on the BSE after the firm declared a consolidated net profit of ₹1,437 Crore for the first quarter ended June 2024. This represents a 77% increase over the ₹814 Crore reported in the same quarter previous year.

The company’s operational revenue climbed by 11% year on year (YoY) to ₹4,347 Crore, up from ₹3,915 Crore in the same period last year.

EBITDA for the quarter climbed by 13% YoY to ₹994 Crore, up from ₹880 Crore in the same period previous year. Meanwhile, EBITDA margins increased by 39 basis points to 22.9% from 22.5% in the same time last year.

Although the company’s pipeline remains strong, its first-quarter performance was disappointing. Large engine orders have been moved into Q2, with the remainder likely in H2 FY25. Orders have stalled due to delays in Russia-related programs, which are currently expected in the second quarter of fiscal year 25.

At around 1.00 PM, Hindustan Aeronautics was trading 1.43% higher at ₹4,728.55 per piece, against the previous close of ₹4,661.70 on NSE. The counter touched an intraday high and low of ₹4,776.30, and ₹4,660, respectively.

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