Hindustan Aeronautical Limited (HAL), the defence PSU, has registered a profit of Rs 7,334 crore since 2015-16 to September 2018, the government said Monday.
In a written response to a question in the Rajya Sabha, Subhash Bhamre, Minister of State in the Defence Ministry, said the HAL posted a profit of Rs 1,998 crore in 2015-16, Rs 2,616 crore in 2016-17, Rs 2,070 in 2017-18 and Rs 650 crore until September 2018.
This assumes significance as the aerospace major had taken an overdraft from the bank for paying its employees. Bhamre said the government has made significant investments to boost capacity of the HAL in the last three years.
This includes sanctioning Rs 450 crore for establishment of major servicing facility for Hawk-132 aircraft, Rs 205 crore for Repair and Overhaul (RoH) Facility for Adour Mk 871-07 engines Read More