Daku Mongol Singh
- Mar 7, 2009
DefenseNewsHAL Reports 19 Percent Sales Increase
By vivek raghuvanshi
Published: 1 Apr 11:59 EDT (15:59 GMT)
NEW DELHI - India's sole military aircraft producer, state-owned Hindustan Aeronautics Ltd. (HAL), has reported a 19 percent increase in sales for the financial year that ended March 31. HAL reported sales of $2.05 billion for the financial year, compared with $1.73 billion the previous year.
However, profits increased only 4.4 percent to $452 million, up from $432.5 million in the previous year.
"The company has achieved a significant breakthrough in exports by securing an order for supply of seven Advanced Light Helicopters (ALHs) to Ecuador against stiff international competition. Five helicopters have already been delivered in March 2009," according to a HAL release.
HAL's order book stands at about $12 billion, a HAL executive said.
Ashok Nayak has replaced Ashok Baweja as company chairman as of April 1.