HAL Q1FY25: Profit up by 76.5%, first Tejas Mk1A fighter jet delivery likely in November

Hindustan Aeronautics (HAL) reported a 76.5% YoY increase in consolidated net profit in Q1FY25 at Rs 1,437.14 crore Vs Rs 814.09 crore in Q1FY24. Total income for the quarter increased 17.54% YoY to Rs 5,083.85 crore from Rs 4,325.29 crore in the first quarter of FY24.
The company has been in news recently for possible delays in Tejas Mk1A deliveries. As reported by Financial Express.com, HAL assured that despite recent setbacks, all aircraft will be delivered within the stipulated time frame. The delays are primarily on account of engine supply and development challenges. The Indian Air Force had raised concerns about a delay in delivering the first Tejas Mk1A fighter jet, initially scheduled for February-March 2024. HAL now aims to deliver the same by November 2024.

HAL has gained attention under Prime Minister Narendra Modi’s “Atmanirbhar Bharat” initiative, which aims to boost self-reliance in defence and manufacturing. Modi highlighted HAL’s achievements in May, citing the company’s record profit of Rs 4,000 crore for the fourth quarter as an example of successful PSU performance. The company currently has two facilities in Bengaluru with capacity of manufacturing 16 aircraft annually. A third facility in Nashik is expected to become operational by October 2024. This will help boost annual production by another 8 aircrafts.