HAL Q1 Results: Profit Rises 77% On Tax Refund
Revenue was up 11% to Rs 4,347.5 crore in the June quarter.
Hindustan Aeronautics Ltd.'s first-quarter profit rose 76.5% year-on-year to Rs 1,437.1 crore for the quarter ended June 2024, beating analysts' estimates, according to an exchange filing on Wednesday.
That compares with the consensus estimate of Rs 1,134 crore given by analysts polled by Bloomberg.
The increase in net profit is attributable to a tax refund of Rs 260.1 crore this quarter. Meanwhile, profit before tax reported a 45.4% increase in the June quarter.
On the expenditure side, the company's depreciation expense declined 26% to Rs 149.2 crore, whereas its employee expenses fell 11.1% to Rs 1,247.6 crore. During the same period, revenue rose 11% to Rs 4,347.5 crore.
HAL Q1 FY25 Earnings Highlights (Consolidated, YoY)
Revenue up 11% to Rs 4,347.5 crore (Bloomberg estimate: Rs 4,708 crore)
Ebitda rises 13% to Rs 990.7 crore (Bloomberg estimate: Rs 1,260 crore)
Margin expands 39 basis points to 22.8%. (Bloomberg estimate: 26.80%)
Net profit rose 76.5% to Rs 1,437.1 crore (Bloomberg estimate: Rs 1,134 crore)
Shares of Hindustan Aeronautics were 0.62% to Rs 4,672.40 apiece in the NSE, compared with a 0.11% decline in the Nifty 50 at 3.11 p.m.
