HAL Recorded Highest-ever Turnover in 2017-18, Says CMD R Madhavan. But, Modi Govt Prefers Anil Ambani’s Defence Company.
The Indian Air Force also congratulated HAL.
The Hindustan Aeronautics Limited (HAL) has recorded the highest-ever turnover in financial year 2017-18, CMD R Madhavan said on Saturday. Ironically, according to the Narendra Modi government, HAL did not have the ‘required capability’ to produce the Rafale fighter jets in India in collaboration with Dassault Aviation. Defence Minister Nirmala Sitharaman even indicated that in a mere 10 days of its existence, Reliance Defence was able to showcase capabilities that HAL couldn’t in over 70 years.
“We have recorded the highest ever turnover of Rs 18,28,386 lakhs in the 2017-18 financial year compared to previous year’s turnover of Rs 17,60,379 lakhs,” CMD R Madhavan said in a statement.
According to a PTI report, HAL had on Friday, held its 55th Annual General Body Meeting of Shareholders, first after its listing. Profit Before Tax for the year was Rs 3,32,284 lakhs as against Rs 3,58,258 lakhs in the previous year, the CMD said, adding the Profit After Tax (PAT) for the year was Rs 2,07,041 lakhs.
The Indian Air Force also congratulated HAL:
#Congratulations : Indian Air Force congratulates Hindustan Aeronautics Limited (HAL) on a record turnover of over Rs.18,000 crores (provisional & unaudited) for the year ending March 31, 2018.@HALHQBLR@DefenceMinIndia@SpokespersonMoD
— Indian Air Force (@IAF_MCC) September 29, 2018