HAL Increases the Contract for Light Combat Aircraft Mk1 to ₹6,542 Crore
Due to modifications in the delivery schedule, the revised contract value has increased from ₹5,989.39 crore to ₹6,542.20 crore. On the BSE, shares of Hindustan Aeronautics Ltd. closed at ₹4,161.60, up ₹33.70, or 0.82%.
Leading defense PSU Hindustan Aeronautics Limited (HAL) said on Thursday, March 27, that it has modified the original December 23, 2010, contract for the light combat aircraft (LCA) Mk1 final operational clearance (FOC) version. Due to modifications in the delivery schedule, the revised contract value has increased from ₹5,989.39 crore to ₹6,542.20 crore.
The LCA, India’s indigenous fighter jet, is manufactured by HAL, a Bengaluru-based company. In 2025 the Indian Air Force will receive 16 LCA Mk1A fighter planes from HAL. Project-related problems have already caused a delay in the first delivery, which was supposed to happen in March 2024. By 2029, it hopes to deliver around 83 of these planes.
Q3 Numbers:
The company’s net profit for the period was ₹1,432.6 crore, up 14% from ₹1,253.5 crore the previous year. At ₹6,957 crore, the topline increased 15% from a year earlier. During the same time last year, the firm reported generating ₹6,061 crore in sales.
The quarter’s earnings before interest, tax, depreciation, and amortization (EBITDA) increased 17.2% from last year to ₹1,681 crore. At the same time, margins increased by a little margin of basis points, from 23.7% to 24.2%. On the BSE, shares of Hindustan Aeronautics Ltd. closed at ₹4,161.60, up ₹33.70, or 0.82%.
