HAL records 4% increase in pre-tax profit

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India's Hindustan Aeronautics Ltd (HAL) has recorded a 4.2% increase in profit before tax to Indian rupees (Rp) 34.7 billion ($636 million) for the year ended 31 March 2013.

Turnover for the aerospace company, which is wholly-owned by the Indian government, rose marginally to Rp143 billion, compared with Rp142 billion a year ago.

The company did not release an after-tax net profit figure, but declared an interim dividend of Rp8.23 billion.

HAL says that over the year, it filed a record 32 patents and spent 12% of its turnover on research and development.

It adds that it recorded many highlights over the year, including the handing over of the first weaponised Advanced Light Helicopter (known as the "Rudra") to the Indian army, export of Cheetah helicopters to Suriname and the first flight of the Jaguar DARIN-III upgrade and Light Combat Aircraft Naval prototypes.

As well as its own aircraft programmes, HAL is also a supplier to Boeing and Airbus.