New Delhi, Feb 12 (NationPress) Government-owned Hindustan Aeronautics Ltd (HAL) announced a significant 14% rise in consolidated net profit, amounting to ₹1,440 crore for the October-December quarter of the current financial year. This marks an increase from ₹1,261 crore during the same period in 2023-24.

The defence public sector unit has also declared a first interim dividend for FY25 of ₹25 per equity share with a face value of ₹5. The record date for this dividend payment is set for Tuesday, February 18, 2025, with payments to eligible shareholders expected by March 14, 2025, as stated in a regulatory filing.

HAL’s operational revenue saw a noteworthy 15% growth, reaching ₹6,957 crore, compared to ₹6,061 crore in Q3FY24, fueled by a strong order backlog from the Defence Ministry.

Additionally, HAL’s chairman and managing director, D K Sunil, mentioned that the deliveries of the Light Combat Aircraft (LCA) Tejas are set to commence shortly as the technical difficulties causing delays have been addressed.

This fourth-generation fighter jet, developed by HAL, is intended to replace the aging MiG-21 fleet. However, IAF Chief Amar Preet Singh has expressed concerns regarding HAL’s adherence to delivery timelines.

“The technical challenges have been resolved, and the Air Chief's concerns are valid,” Sunil stated to reporters at the Aero India show in Bengaluru.

Sunil further assured that HAL is collaborating closely with all stakeholders to expedite the process.

“We have committed to having all structures ready. This has been communicated in numerous meetings. Once the engines are accessible, production will begin immediately… There is no doubt about this. As a united team, we are committed to delivering the aircraft,” he added.