On Friday, the shares of Hindustan Aeronautics hit a new high of Rs 1,785.35 after rallying 6 per cent.

In the last few weeks, the stock has gained 18 per cent after the company reported a 90 per cent year on year (YoY) jump in consolidated net profit at Rs 3,105 crore for the March quarter (Q4FY22). Meanwhile, the state-owned defence company made a profit of Rs 1,628 crore in Q4FY21.

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Moreover, the company’s revenue from operations grew 6 per cent YoY to Rs 11,561 crore from Rs 10,867 crore in Q4FY21. The company said that the sales include Rs 1,276 crore of differential sales on finalisation of fixed price quotation for FY2016-17, approved by the Ministry of Defence.