Hindustan Aeronautics Ltd (HAL) reported a 9% increase in net profit for the third quarter, reaching Rs 1,261.5 crore compared to Rs 1,155.19 crore in the same period last year. Despite this positive financial result, HAL’s shares experienced a 4% decline, touching an intraday low of Rs 2,851 on the Bombay Stock Exchange (BSE).
Dividend Declaration: Board’s First Interim Payout
The board of directors of HAL has declared its first interim dividend of Rs 22 per equity share of Rs 5 each, fully paid up for the financial year 2023-24. This dividend announcement reflects the company’s commitment to rewarding shareholders amidst market fluctuations.
Revenue and EPS Growth: Key Highlights of Q3FY24
HAL posted a 7% increase in revenue to Rs 6,061.3 crore in Q3FY24, compared to Rs 5,665.54 crore in the corresponding period last year. Earnings per share (EPS) rose to Rs 18.86 in Q3, up from Rs 17.27 in the December quarter of the previous fiscal year.
Expense Management
Total expenses for the quarter decreased to Rs 4,838 crore, down from Rs 4,951.05 crore in the December 2022 quarter. This strategic cost management contributed to maintaining profitability despite market challenges.
Market Performance and Turnover
Despite the decline in share price, a total of 2.13 lakh shares of HAL were traded, amounting to a turnover of Rs 61.95 crore. The market capitalisation of the firm fell to Rs 1.91 lakh crore on BSE, reflecting the impact of market sentiment on HAL’s valuation.
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