Share price of a leading Indian aerospace and defence company hit a new 52-week high on BSE at Rs. 4,654.55 on Thursday, after reporting a rise in net profit by 241.5 percent QoQ and 52.2 percent YoY.
With a market capitalisation of Rs. 3.09 lakh crore, the shares of Hindustan Aeronautics Limited (HAL) moved up by 10.03 percent and closed in the green at Rs. 4,603.4.
The fluctuations in the share prices were observed after the company announced the financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges on Thursday.
HAL witnessed a rise in revenue from operations by 144 percent QoQ from Rs. 6,061.3 crore in Q3 FY23-24 to Rs. 14,768.8 crore in Q4 FY23-24, and increased by 18.2 percent YoY from Rs. 12,494.7 crore in Q4 FY22-23 to Rs. 14,768.8 crore in FY23-24.
The consolidated net profit of the company grew by 241.5 percent QoQ from Rs. 1,261.51 crore in Q3 FY23-24 to Rs. 4,308.7 crore in Q4 FY23-24 and increased by 52.2 percent YoY from Rs. 2,831.2 crore in Q4 FY22-23 to Rs. 4,308.7 crore in FY23-24.
The company’s order book was above Rs. 94,000 crores as of March 31, 2024, and further significant orders are anticipated for FY24-25.
According to the regulatory filings made on April 1st, HAL received new manufacturing contracts for over Rs. 19,000 crore and ROH contracts for over Rs. 16,000 crore during FY23-24.
As of March 2024, FIIs hold 12.42 percent of the shares, whereas DIIs hold 9.58 percent of the shares in the company, aggregating to 22 percent of the institutional holdings.
The stock jumped by 11.2 percent in the trading session of Thursday to Rs. 4,654.55, compared to its previous closing price of Rs. 4,183.65.
Incorporated in 1940, Hindustan Aeronautics Ltd. is an Indian public-sector aerospace and defence company, headquartered in Bangalore. The company is engaged in the business of manufacture of aircraft and helicopters and repair and maintenance of aircraft and helicopters.
Written by Shivani Singh
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