HAL

HAL Stocks Soar 9% on Record Profit Growth

HAL's Q4 profit skyrockets by 52%, leading to a 9% surge in share prices! 🚀 #HAL #Stocks #ProfitGrowth

Hindustan Aeronautics Limited (HAL) witnessed a remarkable surge in its stock prices, with shares jumping by a significant 9.04% to reach a high of Rs 4562.25 on the Bombay Stock Exchange. The aerospace and defence PSU reported a substantial increase in net profit for the fourth quarter, soaring by an impressive 52% to Rs 4308 crore. This outstanding financial performance sent investors into a frenzy, propelling HAL's stocks to new heights.

The positive momentum continued as HAL's stock hit an 8% upper circuit following the announcement of a remarkable 52% rise in net profit to Rs 4308 crore for Q4. This achievement marked a record-high for the defence major, showcasing its financial prowess and market dominance. The surge in share prices reflected the confidence of investors in HAL's growth prospects and strong financial results.

Throughout fiscal 2024, HAL capitalized on the Indian government's increased capital expenditure, resulting in a commendable revenue growth. The company's revenue from operations spiked by 18% to Rs 14768.7 crore for the quarter ended in March 2024. This robust performance further solidified HAL's position as a key player in the capital goods and manufacturing sector, setting a positive trajectory for future growth and expansion.

In a noteworthy development, HAL reported a consolidated net profit of Rs 4308.68 crore in Q4 FY24, representing a substantial 52.19% increase compared to the previous year. This exceptional financial achievement underscored HAL's commitment to excellence and innovation in the aerospace and defence industry, reaffirming its status as a market leader. With a strong performance in revenue and profit, HAL's stellar Q4 results have positioned the company for continued success and growth in the coming quarters.