HAL crosses Rs 15,000 cr turnover in FY '14

Aerospace major HAL on Thursday said its turnover has crossed the Rs 15,000-crore mark during 2013-14 against Rs 14,324 crore in the previous year.

HAL has notched up the highest ever turnover of Rs 15,180 crore for 2013-14, a company release said.

“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,” HAL Chairman R K Tyagi said. “We are preparing the company for 2020 and beyond,” he said.

The company said HAL’s Value of Production (VOP) for 2013-14 stood at Rs 15,296 crore as against Rs 14,202 crore in the previous year.

Operating profit during 2013-14 increased to Rs 1,651 crore as against Rs 1,194 crore in 2012-13, it added.

HAL said some of its highlights for 2013-14 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.