Operating revenues for the December quarter rose 11% year-on-year to Rs. 7,699 crore, compared to Rs. 6,957 crore in the corresponding period last year, the company said in a regulatory filing.
EBITDA was Rs. 1,871 crore, an increase of Rs. 1,682 crore a year ago, with margins improving slightly from 24.18% to 24.3%. EBITDA is earnings before interest, taxes, depreciation and amortization. Pre-tax profit rose to Rs. 2,487 crore of Rs. 2,042 crore, supported by healthy implementation of key defense programmes.
Total expenses for the quarter under review increased to Rs. 6,139 crore of Rs. 5,552 crore, largely in line with revenue growth. Material costs remained the largest cost component, while personnel and other costs remained largely stable as a percentage of sales.
For the nine months ended December 2025, the company reported revenue from operations of Rs. 19,146 crore and a net profit of Rs. 4,919 crore.
HAL’s shares have been under pressure in recent weeks due to concerns over delivery times for the LCA Mk1A fighter jets and increasing competition from private sector players in India’s next-generation fighter programme. Shares are down about 8% in the past month. The company clarified that five aircraft are fully ready for delivery, incorporating key contractual capabilities in accordance with agreed specifications. Earlier reports suggested that HAL may have been left out of the race to develop India’s next generation of advanced multirole fighter aircraft.
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