HAL profit before tax crosses Rs 1,000 cr

Bangalore, Apr 3 (UNI) Public Sector Hindustan Aeronautics Limited (HAL) has recorded a Profit Before Tax of Rs 1,002 crore in 2005-06, up 32 per cent, as against Rs 681.36 crore registered during the corresponding period the previous year.

It's sales turnover had cruised past the Rs 5,000 mark to touch Rs 5,375 crore, registering a growth of 18.5 per cent over the previous year, a HAL release here said today.

The value of production had also gone up by 16.4 per cent to touch Rs 5750 crore. HAL had also concluded contracts worth Rs 17,800 crores during the year. the release said.

It's export turnover stood at Rs 185 crore, recording a 23 per cent growth, over the previous year. It's thrust on exports received a boost with booking of export orders worth Rs 249.33 crore, the release said.

HAL paid the highest-ever Interim Dividend of Rs 188.45 crores, around 156 per cent of the paid-up Share Capital of the company, the release added.

The Company's stellar performance was attributed to the successful execution of several programmes during the year, including SU-30 MKI, DO-228, ALH and Lakshya. Besides, a series of aircraft upgrade programmes were also contributing to HAL's growth.

HAL was collaborating with Russian partners for a Multi-Role Transport Aircraft in 15-20 Ton cargo capacity. This aircraft would meet the requirement of both Indian and Russian Air Forces. HAL could convert this platform into a 100-seater passenger aircraft.

The company had spent Rs 412.82 crore towards Research and Development during the year, the release added.

UNI MSP RG GM2039