India`s Hindustan Aeronautics posts quarterly profit rise as 'other income' surges
India's Hindustan Aeronautics, a state-run aerospace and defence firm, reported a 5.5% year-on-year rise in fourth-quarter profit on Thursday, helped by a surge in its "other income" segment.
• The company's net profit rose to 41.96 billion rupees ($438.32 million) for the quarter ended March 31, from 39.77 billion rupees a year earlier.
• Other income rose sharply by 76.6% to about 11.51 billion rupees, boosting overall profitability. The company did not specify what accounted for the jump in this category.
• Revenue from operations rose 1.7% to 139.42 billion rupees.
• Analysts at Antique Stock Broking said fiscal 2027 could be an inflection point for HAL, driven by a pick-up in Tejas Mk1A deliveries as engine supply issues ease.
• However, total gross expenses increased about 5.4% year-on-year, driven by higher material costs.
• Shares of HAL jumped as much as 4.1% after the results and were trading 1.9% higher in the afternoon. The stock has risen about 6% so far this year.
($1 = 95.7288 Indian rupees)
