After the company reported a 44.2 per cent jumped then, Hindustan Aeronautics (HAL) gained 2.11 per cent to Rs 2,482.90 in net profit (consolidated) to Rs 1,221.22 crore in the second quarter of FY23 as compared to Rs 846.74 crore posted in the second quarter of FY22.

Revenue from operations went down at 7.3 per cent YoY to Rs 5,144.79 crore in Q2FY23. PBT increased by 43.5 per cent to Rs 1,630.64 crore in the second quarter of FY23 compared with Rs 1,136.27 crore in FY22.

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During the quarter, total expenditure declined 17.1 per cent yearly to Rs 3,775.50 crore. The cost of materials consumed was Rs 1,733.84 crore, down 19.5 per cent YoY, while employee benefit expenses stood at Rs 1,144.69 crore, up 6.57 per cent YoY in the second quarter of FY23.

The company has to develop, design, repair and manufacture avionics, instruments and accessories primarily serving Indian defence programmes. At the end of the financial year 2021-22, the Government of India (GOI) held a 75.15 per cent stake in HAL.