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India’s state-owned Hindustan Aeronautics Limited (HAL) has achieved a 19 percent growth in sales turnover valued at $2 billion in financial year 2008-09.
An official press release issued by HAL said the company has made a profit before tax valued at $452 million in the current financial year. The profit is around 22 percent of the total sales turnover.
The value of production has also gone up from $1.75 billion in 2007-08 to $2.23 billion in 2008-09 with a growth of 27 percent.
The company release further stated that HAL has achieved a significant breakthrough in exports by securing an order for the supply of seven Advanced Light Helicopters (ALHs) to Ecuador against stiff international competition. Five helicopters have already been delivered in March 2009.
The export earnings at $84.2 million were the highest-ever, in spite of loss and despite the recession the world-over, the order book position of the Company stands at an enviable figure of over $12 billion.
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