HEG posts Q1 profit at Rs 770 cr on strong operational performance; revenue up 673%
HEG's pperating profit shot up 4975 percent year-on-year to Rs 1,187.6 crore and margin expanded sharply to 74.8 percent in Q1FY19 from 11.4 percent in Q1FY18 and 73.6 percent in Q4FY18.
August 01, 2018 / 07:36 PM IST
We are in the last phase of the September quarter earnings season, and the results announced by the BSE 500 companies so far have shown signs of a sharp recovery, as compared to the June quarter, when the economic activity in the country was compromised due to lockdown in various regions. From the BSE 500 list, 216 companies have announced their September quarter results so far. We excluded banking and financial companies. Along with the index stocks we also analyse each sector quarterly earnings. (Data Source: ACE Equity)
Carbon and graphite product manufacturing company HEG has reported profit at Rs 770.3 crore for the quarter ended June against net loss of Rs 8.34 crore in same period last year, backed by growth across the board.
Revenue from operations during the quarter grew by 673 percent to Rs 1,587 crore compared to Rs 205.35 crore in corresponding period last year. The sequential growth in revenue was 23 percent.
Operating profit shot up 4975 percent year-on-year to Rs 1,187.6 crore and margin expanded sharply to 74.8 percent in Q1FY19 from 11.4 percent in Q1FY18 and 73.6 percent in Q4FY18.
Power and fuel cost in Q1 increased 94 percent year-on-year to Rs 41.5 crore but fell 23 percent quarter-on-quarter.