Further, the aerospace & defense company's board approved a final dividend of Rs 15 per equity share for the financial year 2022-23, which shall be paid to the shareholders within 30 days from the date of its approval.

HAL is engaged in carrying out design, development, manufacture, repair and overhaul of aircraft, helicopter, engines and related systems like avionics, instruments and accessories primarily serving Indian defence programme. As of 31 March 2023, the Government of India held 75.15% stake in the company.

HAL's consolidated net profit fell 9% to Rs 2,831.18 crore on 8% increase in revenue from operations to Rs 12,494.67 crore in Q4 FY23 over Q4 FY22.

Shares of HAL declined 0.82% to Rs 3,669.85 on the BSE.