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 defence behemoth said on Saturday.
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 defence 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 Chairaman and Managing Director T. Suvarna Raju in a statement here.
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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/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.
Previous month, Hindustan Aeronautics Ltd said its overall investment over the next five to six years is expected to be about Rs 17,500 crore, and it may go for loans from banks soon to fund its projects. The company also said it has contributed over Rs 5000 crore to the government exchequer through the buyback option. “…we will be happy if we get more funds, but we will present the case. Not waiting for two or three years till CCS sanctions to meet the current expectations and requirements, we are funding from our own reserves,” HAL Chairman and Managing Director T Suvarna Raju told reporters.