2, March, 2024
HomeBusinessHAL's Q3 Results Showcase Robust Performance: Net Profit Surges, Interim Dividend Declared

HAL’s Q3 Results Showcase Robust Performance: Net Profit Surges, Interim Dividend Declared

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Hindustan Aeronautics Ltd (HAL) demonstrated strong financial performance in Q3, with net profit reaching Rs 1,261.5 crore, reflecting a notable 9% increase from the year-ago period. However, despite the positive results, HAL’s shares experienced a 4% dip, touching an intraday low of Rs 2,851 and falling 3.86% on BSE.

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The board of directors responded to the impressive performance by declaring the first interim dividend of Rs 22 per equity share of Rs. 5/- each fully paid up for the financial year 2023-24. This move underscores the company’s commitment to rewarding shareholders amid its growth.

In Q3FY24, HAL recorded a 7% rise in revenue, reaching Rs 6,061.3 crore compared to Rs 5,665.54 crore in the corresponding period last year. Earnings per share (EPS) also showed a positive trend, increasing to Rs 18.86 in Q3, up from Rs 17.27 in the December quarter of the previous fiscal.

While the net profit and revenue witnessed growth, total expenses saw a reduction to Rs 4,838 crore in Q3, down from Rs 4,951.05 crore in the December 2022 quarter. The efficiency in managing expenses contributes to the overall positive financial outlook for HAL.

Trading activity saw a turnover of Rs 61.95 crore, with 2.13 lakh shares changing hands. However, despite the strong financials, the market cap of the firm dipped to Rs 1.91 lakh crore on BSE.

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HAL’s Q3 results indicate resilience and stability in its financial performance, with the declaration of an interim dividend signaling confidence in the company’s continued success. Investors will likely monitor further developments as HAL navigates the evolving economic landscape.

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