Hindustan Aeronautics Limited (HAL) on Friday reported a 90.7 per cent surge in net profit at Rs 3,101.96 crore for the quarter ended 31 March, 2022. The state-owned aerospace and defence company had reported a net profit of Rs 1621.29 crore in the year-ago period.
HAL's revenue from operations was up 6.4 per cent at Rs 11,561.1 crore for the quarter under review as against Rs 10,866.5 crore in the same quarter last fiscal.
The EBITDA, or earnings before interest, taxes, depreciation, and amortization was down 7.9 per cent at Rs 2,499.7 crore as against Rs 2,714.2 crore in Q4FY21 while the EBITDA margin fell 340 basis points to 21.6 per cent versus 25 per cent (YoY).
On its outlook, HAL stated that it expects to recover the carrying amount of intangible assets, inventories, property, plant and equipment's, lease, financial instruments, trade receivables etc.
"Efforts are being made to minimize the impact. The company will continue to closely monitor the developments, the future economic and business outlook and its impact on company's future financial statements with a view to minimize the Covid impact," it added.
Shares of HAL traded 0.43 per cent at Rs 1,510.40 apiece on BSE during noon deals.