HEG soars 6% after Q3 net profits zoom 153%

HEG Ltd's standalone net profit in the quarter ended December 2019 has risen 153% yoy to Rs867cr.

Feb 12, 2019 09:02 IST India Infoline News Service

Shares of HEG were trading in the green on Tuesday after the company posted solid net profit growth in its Q3FY19 results. The HEG stock soared ~6% on the BSE after the company's net profit zoomed 153% in Q3FY19. 

HEG reported a sequential decline in earnings despite higher revenues due to increased raw material costs. Revenue in the quarter grew 121% yoy to Rs1,865cr (up 4% qoq). EBITDA stood at Rs1,313cr, up 136% yoy (down 4% qoq), with EBIDTA margins rising 427bps yoy to 70.4%. Net profit stood at Rs867cr, up 153% yoy (down 2.5% qoq). Read more.

HEG Ltd, incorporated in 1972, is a leading manufacturer and exporter of graphite electrodes in India and operates the world's largest single-site integrated graphite electrodes plant at Mandideep in Madhya Pradesh. The company also operates three power generation facilities with a total rated capacity of about 76.5 MW.

HEG Ltd share price is currently at Rs2,331.20, up Rs120.1, or 5.43%, from its previous close of Rs2,211.10 on the BSE.

The scrip opened at Rs2,170 and has touched a high and low of Rs2,346.40 and Rs2,025, respectively. So far, 12,72,268 (NSE+BSE) shares were traded on the counter.

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