Hindustan Aeronautics Limited (HAL) shares hit a 52-week high of Rs 2,110.95 on 10 November after the company announced its earnings for the July-September quarter.

The company reported a 1.26% year-on-year (YoY) increase in its consolidated net profit to Rs 1,236.67 crore for the quarter ending on 30 September.

The consolidated revenue of the company saw a 9.5% YoY increase to Rs 5,635.7 crore for the quarter.

The company’s EBITDA (earnings before interest, tax, depreciation, and amortisation) came at Rs 1,527.7 crore, marking a 5.8% YoY decline from the same quarter of the previous fiscal year.

The joint venture between the company and HATSOFF Helicopter Training Private Limited incurred a loss of Rs 10,166.16 lakh that resulted in erosion of net worth.

The company has paid the European Central Bank (ECB) a principal of Rs 2,200 lakh against ECB overdue instalments. The ECB loan is classified as a non-performing asset by the lending bank.

A few days earlier, the company also signed a contract with Airbus for the maintenance, repair, and overhaul facilities dedicated to the A-320 aircraft.

Airbus is the largest European aircraft manufacturer and will provide the A320 daily tool package and offer specialised consulting services to HAL for setting up maintenance, repair, and overhaul facilities.

The aircraft manufacturer will also provide company access to AirbusWorld, which is a digital platform that offers support, technical data and training solutions.

At 3:30 pm, the shares of HAL closed 1.24% higher at Rs 2,056 on NSE.