HAL turnover crosses Rs15,000 cr in FY14; reports Rs1,651-cr operating profit

Hindustan Aeronautics Ltd (HAL) today reported a 6 per cent increase in its turnover for the 2013-14 financial year to Rs15,180 crore against Rs14,324 crore in the previous financial year.

''HAL has notched-up the highest ever turnover of Rs15,180 crore for the FY 2013-14, surpassing the previous year's figure of Rs14,324 crore,'' a company release said.

"We crossed the psychological barrier of Rs15,000 crore and the production has been pretty good as we produced 60 aircraft and helicopters, achieved the initial operational clearance (II) of LCA and filed record 209 patents during the year", said RK Tyagi, chairman, HAL.

"We are preparing the company for 2020 and beyond", he added. HAL's Value of Production (VoP) for FY 2013-14, stood at Rs15,296 crore against the figure of Rs14,202 crore of the previous year. The operating profit went up to Rs1,651 crore in the FY 2013-14 as against Rs1,194 crore in 2012-13.

HAL also received the 'Most Efficient Navratna 2013' award at the fifth Dalal Street Investment Journal Awards night held in New Delhi yesterday.

During the year, HAL received initial operational clearance for its light combat aircraft (LCA) after successfully completing sea level, night and high altitude trials and the aircraft was inducted for initial operations with the Indian Air Force.

The year also saw the induction of the first completely Indian manufactured Hawk Advanced Jet Trainer by INS Dega, Visakhapatnam, dedication of ALH-Dhruv and Garuda Vasudha helicopter to the nation for exploration of minerals, contribution of structures for Mars Orbiter Mission (MOM) and Crew Module structure assembly for the Human Spaceflight Programme (HSP) to ISRO.

Besides HAL says it took several prudent steps in financial management as also initiatives on R&D front, indigenisation, quality, customer support, IT, HR and CSR, the company said.