Pawan Hans set to end next fiscal year with net profit

At the time when the government is in the final stages of divesting its stake in state-owned helicopter operator Pawan Hans Ltd, the company has improved its financials and is set to end this year with an operating profit and clock net profit the next fiscal.

“We have made operating profits in 2020-21 and that is set to continue even during the current fiscal (2021-22). The losses that we make this year will not be operational losses. We are adding about six helicopters to the fleet and that would help us achieve net profit by the end of next fiscal,” its chairman Sanjeev Razdan told ET at Wings India. He added that the operational profitability is on the back of cost reduction that has been achieved through cost-cutting measures including a 15% reduction in employee allowances.