BENGALURU, May 16 Reuters India39;s Hindustan Aeronautics Ltd HAL reported a rise in fourthquarter profit on Thursday, helped by demand for its aircraft from the country39;s defence ministry.

Consolidated net profit rose 52 yearonyear to 43.09 billion rupees 516.2 million for the three months ended March 31.

Capital goods and manufacturing companies have benefited throughout fiscal 2024 from the Indian government39;s push for higher capital expenditure. This extended into the fourth quarter.

The stateowned aerospace and defence company bagged orders worth 176 billion rupees during the quarter, up 135 from a year earlier, per Elara Capital.

The company39;s order inflow includes the supply of 25 Dornier aircraft to the Indian Navy and orders for engines for MiG29 aircraft, the brokerage said.

HAL, whose customers include the Indian Army, Navy and Air Force, along with aerospace corporations Airbus and Boeing, said revenue rose over 18 to 147.69 billion rupees.

Its two main businesses are manufacturing defence technology and aircraft maintenance, but it does not give a segmentwise breakup.

Its rivals Bharat Electronics and Bharat Dynamics have yet to report Marchquarter results.

HAL39;s shares jumped as much as 5.4 after the results.

1 83.4807 Indian rupees

Reporting by Varun Hebbalalu in Bengaluru; Editing by Eileen Soreng

Source Reuters