HAL shares rally 4% after Q2 PAT jumps 22% YoY to Rs 1,510 crore
Hindustan Aeronautics (HAL) today surged 4% to an intraday high of Rs 4,246 on the BSE today after the company on Thursday reported a consolidated net profit of Rs 1,510 crore for the quarter that ended September 30, 2024, rising 22% over Rs 1,237 crore reported in the year-ago period.
The revenue from operations stood at Rs 5,976 crore, gaining 6% over Rs 5,636 crore posted by the company in the corresponding quarter of the previous financial year.
On a sequential basis, the profit after tax (PAT) was 5% higher over Rs 1,437 crore reported by the state-run defense company in Q1FY25. Meanwhile, revenue was up 37% on a quarter-on-quarter (QoQ) basis as against Rs 4,34,750 reported in the April-June quarter of FY25.
Post the company’s Q2 update, domestic brokerage firm ICICI Securities gave a target price of Rs 5,170 on the stock while maintaining its ‘add’ rating on the same.
“Taking cognisance of the delay in engines, impacting revenue from Tejas Mk-1A, we
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