Hindustan Aeronautics reported its earnings for the quarter ended June on Wednesday. Share of HAL got a boost as soon as the results came out.

What Happened: The defence major’s consolidated net profit went up 76% to ₹1,437 crore, compared to the ₹814 crore posted in the same quarter last year. The net profit was aided by an earlier tax refund of around ₹256 crore.

The company's revenue from operations for the quarter under review stood at ₹4,347 crore, an 11% increase from the ₹3,915 crore posted in the corresponding quarter of the previous year.

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Analysts estimated the company’s revenue to come in at ₹4,593.5 crore with a net profit of ₹943.6 crore. EBITDA for the April-June quarter came in at ₹994 crore with an EBITDA margin of 22.9%.

Shares of the defence major had been under pressure on Wednesday along with several other PSU stocks.

Price Action: HAL's share price was up 0.45% to trade at ₹4,722.50 on Wednesday afternoon.

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