For the March quarter, HAL reported a net profit of ₹4,184 crore, higher than the CNBC-TV18 poll of ₹3,198 crore. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at ₹5,057 crore, also higher than the CNBC-TV8 poll of ₹4,416 crore.
EBITDA margin for the quarter stood at 36.3%, while a CNBC-TV18 poll was working with a figure of 33.7%. Revenue for the March quarter stood at ₹13,943 crore, also higher than the poll of ₹13,104 crore.
However, on a year-on-year basis, the numbers paint a subdued picture. HAL’s net profit was up 5.7% from last year. However, its revenue grew only by 1.8% from last year.
EBITDA for the quarter has shown a decline of 4.4%, while margins have narrowed by over 240 basis points compared to the base quarter.
Provisions for the quarter have seen a sharp 88% drop from the same quarter last year to ₹166 crore, and now comprises of only 1% of overall sales compared to 10% last year.
Margins though were impacted due to a 29% increase in material costs, which now form 46% of overall sales compared to 36% last year but the same as the December quarter.
Shares of HAL are off the highs of the day, currently trading 1.9% higher at ₹4,707.6. The stock is up 11% over the last one month, as a result of which, it has turned positive on a year-to-date basis.
