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Hot Pursuit
11-Apr-22
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HAL, L&T consortium emerge L-1 bidder for ISRO project
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Hindustan Aeronautics (HAL) on Monday announced that along with L&T consortium it has emerged as L1 bidder to make five Polar Space Launch Vehicles (PSLVs) for ISRO.
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HAL said it is the lead partner with L&T while other vendors too will be involved with the consortium in the manufacturing of the launch vehicles. However, the contract is yet to be formalised/ awarded, the company further added.
The Indian Space Research Organisation (ISRO) is the national space agency of India, headquartered in Bengaluru. It operates under the Department of Space which is directly overseen by the Prime Minister of India.
Hindustan Aeronautics is an Indian state-owned aerospace and defence company, headquartered in Bengaluru, India. HAL is one of the oldest and largest aerospace and defence manufacturers in the world today.
On consolidated basis, the company reported 9.4% increase in net profit to Rs 933.38 crore on 8.6% increase in net sales to Rs 5891.90 in Q3 FY22 over Q3 FY21.
Shares of Hindustan Aeronautics were trading 2.93% higher at Rs 1,667.75 in early trade on BSE.
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