Hindustan Aeronautics Limited (HAL) has reported a remarkable 76.5% year-over-year increase in its consolidated net profit for the first quarter of FY25, reaching Rs 1,437.14 crore compared to Rs 814.09 crore during the same period in FY24. The company’s total income for the quarter also saw a substantial rise, climbing by 17.54% year-over-year to Rs 5,083.85 crore from Rs 4,325.29 crore in the corresponding quarter of the previous fiscal year.
Recently, HAL has been in the spotlight due to potential delays in the delivery of its Tejas Mk1A fighter jets. According to a report, despite these recent challenges, HAL has reassured that all aircraft will be delivered within the agreed time frame. The delays have primarily stemmed from issues related to engine supply and development hurdles.
The Indian Air Force had previously expressed concerns regarding a potential delay in receiving the first Tejas Mk1A fighter jet, which was originally scheduled for delivery between February and March 2024. HAL now aims to deliver this aircraft by November 2024.
Under the “Atmanirbhar Bharat” initiative, spearheaded by Prime Minister Narendra Modi, HAL has garnered significant attention. This initiative focuses on enhancing self-reliance in the defense sector and manufacturing industries. In May, Modi praised the company’s achievements, highlighting the company’s record profit of Rs 4,000 crore for the fourth quarter as a prime example of successful performance by a public sector undertaking.
Currently, the company operates two facilities in Bengaluru with the capability to manufacture 16 aircraft annually. Additionally, a third facility in Nashik is projected to become operational by October 2024, which is expected to increase the company’s annual production capacity by an additional eight aircraft. This expansion is set to further bolster HAL’s production capabilities and contribute to its growing prominence in the aerospace sector.
Hindustan Aeronautics Limited is a leading aerospace and defense company based in India. Specializing in aircraft manufacturing, the company supports national defense with cutting-edge technology and innovation. The company operates key facilities in Bengaluru and Nashik, producing a range of aircraft, including fighters and helicopters, contributing significantly to India’s defense capabilities and self-reliance in the sector.
