HAL records strong growth
Registering a growth of 32%
HAL has posted a strong financial performance registering a growth of 32% on revenue from operations of Rs. 3451 crores for the quarter ended September 2019 as compared to Rs. 2610 crores for the quarter ended September 2018.
The company’s performance is a result of streamlining the production uniformly so as to even out seasonality of business leading to bunching of revenue during the third and fourth quarters of financial year. This has resulted in uniform revenue in the first two quarters of the current financial year 2019-20 as compared to the corresponding previous period of 2018-19.
The profit after tax has also registered a growth of 116% of Rs.624 crores for the quarter ended September 2019 as compared to Rs. 289 crores for the quarter ended September 2018 primarily due to reduction in the Income Tax rates and re-measuring of its deferred tax liabilities.