By IANS,
Bangalore : State-run defence behemoth Hindustan Aeronautics Ltd (HAL) posted a turnover of Rs.10,260 crore in 2008-09, registering a 19 percent increase year-on-year from Rs.8,625 crore, the company said Wednesday.
“With this record performance, we have met the memorandum of understanding (MoU) parameters signed with the defence ministry,” the company said in a statement.
According to the provisional financial results, HAL posted Rs.2,260 crore as profit before tax (PBT) as against Rs.2,164 crore a year ago, a marginal increase of 4.4 percent amounting to Rs.960 million (Rs.96 crore).
The aerospace major, being a state-run enterprise, will declare its net profit for the fiscal under review by September when it has to present the accounts to parliament for approval.
Net profit for 2007-08 was Rs.1,632 crore.
“The PBT is 22 percent of the turnover, which is impressive vis-�-vis that of similar aerospace firms the worldover,” the statement noted.
HAL has already paid an interim dividend of Rs.300 crore – the highest-ever – for 2008-09, which is a whopping 249 percent of the paid-up capital.
“The company’s order book position for the new fiscal (2009-10) stands at Rs.600 billion (Rs. 60,000 crore) despite global recession,” the statement added.