Mumbai: State-run helicopter operator Pawan Hans narrowed its loss after tax to Rs 28.08 crore in FY20 from Rs 69.20 crore a year earlier, because of lower costs.
Revenue for the year decreased to Rs 356 crore from Rs 381 crore a year earlier, showed the information memorandum document floated by the government to invite expressions of interest to invest in the company.
The document showed the number of annual flying hours as well as revenue have consistently declined every year since FY16. Its fleet size has stayed between 42 and 44.
Total expenses for Pawan Hans in FY20 declined to Rs 385 crore from Rs 430 crore, cutting its post-tax loss.
Credit: Stocks-Markets-Economic Times