HAL's third-quarter profit declines 17% to ₹455 crore

State-run Hindustan Aeronautics (HAL) on Monday posted a 17% year-on-year fall in third-quarter profit at ₹455 crore. Income from operations stood at ₹4,483 crore as against ₹4,463 crore in the year-ago period. A ₹1,876-lakh fraud involving misappropriation of funds by an official in collusion with six contractors was found and referred to the vigilance department for further probe, HAL said.