3 weeks ago
The revised contract value has increased from ₹5,989.39 crore to ₹6,542.20 crore due to changes in the delivery schedule. Shares of Hindustan Aeronautics Ltd ended at ₹4,161.60, up by ₹33.70, or 0.82%, on the BSE.
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Leading defence PSU Hindustan Aeronautics Limited (HAL) on Thursday (March 27) said it has amended the contract for the light combat aircraft (LCA) Mk1 final operational clearance (FOC) variant, originally signed on December 23, 2010.
The revised contract value has increased from ₹5,989.39 crore to ₹6,542.20 crore due to changes in the delivery schedule.
LCA is India’s homegrown fighter jet being produced by the Bengaluru-based HAL. HAL is expected to deliver 16 LCA Mk1A fighter jets to the Indian Air Force in 2025. The first delivery scheduled for March 2024 had already witnessed a delay due to project-related issues. It aims to deliver about 83 such jets by 2029.
Also Read: Hindustan Aeronautics shares may rise another 20% as a key overhang abates: JPMorgan
Q3 numbers
The company's net profit for the period increased by 14% from last year to ₹1,432.6 crore from ₹1,253.5 crore. The topline rose 15% from last year to ₹6,957 crore. The company had reported a revenue of ₹6,061 crore during the same period last year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter grew by 17.2% from the year-ago period to ₹1,681 crore, while margins saw a marginal expansion of basis points to 24.2% from 23.7% in the same quarter last year.
Shares of Hindustan Aeronautics Ltd ended at ₹4,161.60, up by ₹33.70, or 0.82%, on the BSE.
Also Read: HAL set for 30% upside? Brokerages weigh in as Tejas Mk-1A delivery nears takeoff
(Edited by : Shoma Bhattacharjee)
