State-run aerospace company Hindustan Aeronautics Limited (HAL) has made tremendous profits in the last financial year. After this result, the share price of the company has also increased rapidly. On the last trading day of the week, the company’s stock was seen trading at the level of Rs 1520 with an increase of more than 2 percent on the BSE index. Talking about the market capital, it is more than Rs 50,850 crore.
Company Profits: In the financial year ended March 31, 2022, Hindustan Aeronautics Limited has earned a profit of more than Rs 24,000 crore, which is six percent more than the previous financial year and the highest ever. The company had a profit of Rs 22,755 crore in the financial year 2020-21.
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R Madhavan, Chairman, HAL said, “Despite the challenges posed by the second wave of COVID-19 and reduction in production in the first quarter of the last financial year, the company achieved the target of revenue growth and also performed well.”
Employees worked hard: According to the company, due to the second wave of COVID-19, the company had to announce the lockdown in various divisions in a phased manner between April and May 2021.
The employees worked overtime in June and July 2021 to make up for the losses caused by the lockdown. Due to better financial performance and cash flow, credit rating agencies CARE (CARE) and ICRA upgraded the company’s credit rating from ‘AA+ stable’ to ‘AAA stable’ in the last financial year, it said.