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HAL sales grew 4% in fiscal 2016-17

HAL sales grew 4% in fiscal 2016-17
State-run Hindustan Aeronautics Ltd (HAL) posted sales of Rs 17,406 crore in the just-concluded fiscal 2016-17, registering 4 per cent annual growth from Rs 16,736 crore in the previous fiscal, the defense behemoth said on Saturday.

"It is business as usual for us with the company doing well on expected lines. We paid Rs 800 crore to the government by interim dividend. This is in addition to Rs 162 crore paid to government as dividend tax," said HAL Chairman and Managing Director T. Suvarna Raju in a statement here.

The profit-before-tax at Rs 3,294 crore for the fiscal under review (FY 2016-17) was flat (0.18 per cent) from Rs 3,288 crore.

Some of the highlights of the financial year 2016-17 include the production of 12 Su-30 MKI aircraft in Phase-IV, 24 advanced light helicopters, overhauling of 197 aircraft or helicopters, 473 engines and production of 178 new aero-structures.

The HAL received orders worth Rs 21,000 crore that included 12 Do-228 aircraft for the Indian Navy, 32 advanced light helicopters for the Indian Navy and the Coast Guard and AL-31 FP engines for Su 30 MKI.

The fiscal 2016-17 has also witnessed maiden flight of Hindustan Turbo Trainer-40 (HTT-40) and light utility helicopter (LUH) in addition to carriage trials of light combat aircraft (LCA) with fixed air to air refueling probe.

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