Public sector aviation major Hindustan Aeronautics Limited (HAL) has registered the highest-ever turnover of Rs 15,180 crore for FY14 when compared to Rs 14,324 crore recorded in the last year.
The Bangalore-based company said that it had built 60 aircraft and helicopters and achieved Initial Operational Clearance II for the much-delayed Light Combat Aircraft (LCA).
“We crossed the psychological barrier of Rs 15,000 crore and the production has been pretty good as we produced 60 aircraft and helicopters, achieved the initial operational clearance (II) of LCA and filed record 209 patents during the year,” RK Tyagi, Chairman, HAL said in a statement.
He added that the company was preparing for “2020 and beyond’. HAL’s Value of Production (VOP) for the year 2013-14 stood at Rs 15,296 crore as against Rs 14,202 crore in 2012-13.
The Indian aerospace major’s operating profit was up to Rs 1,651 crore in FY14 when compared to Rs 1,194 crore in Fy13.
The company also said HAL was awarded with “Most Efficient Navratna 2013” award at the fifth Dalal Street Investment Journal Awards held in New Delhi on Wednesday.
Tyagi said some of its highlights for FY2013-14 include Initial Operational Clearance (IOC) received for Light Combat Aircraft (LCA), sea level, night level and high altitude trials successfully done for Intermediate Jet Trainer (IJT) and induction of first completely Indian manufactured Hawk Advanced Jet Trainer by INS Dega, Visakhapatnam.