HEG gains on seven-fold jump in Q4 profit
Q4 net profit at Rs 35 crore against Rs 5 crore in a year ago quarter due to foreign exchange gain.
HEG is trading higher by 7% to Rs 190 after reporting seven-fold jump in net profit at Rs 35 crore for the quarter ended March 2013, due to foreign exchange gain. The company had profit of Rs 5 crore in a year ago quarter.
During the quarter under review, the company has reported a forex gain of Rs 2.58 crore against loss of Rs 48 crore in the corresponding quarter of previous fiscal.
“Net revenues grew 9.5% at Rs 446 crore in the quarter ended March 2013 as against Rs 408 crore during the previous quarter ended March 2012,” HEG said in a statement.
Meanwhile, the board has recommended payment of dividend at the rate of Rs 8 per equity share of Rs 10 each for the year ended March 31, 2013, subject to the approval of shareholders of the company.
The stock opened at Rs 185 and touched high of Rs 193 on NSE. A combined 174,138 shares changed hands on the counter till 1018 hours against an average sub 100,000 shares that were traded daily in past two weeks on NSE and BSE.
During the quarter under review, the company has reported a forex gain of Rs 2.58 crore against loss of Rs 48 crore in the corresponding quarter of previous fiscal.
“Net revenues grew 9.5% at Rs 446 crore in the quarter ended March 2013 as against Rs 408 crore during the previous quarter ended March 2012,” HEG said in a statement.
Meanwhile, the board has recommended payment of dividend at the rate of Rs 8 per equity share of Rs 10 each for the year ended March 31, 2013, subject to the approval of shareholders of the company.
The stock opened at Rs 185 and touched high of Rs 193 on NSE. A combined 174,138 shares changed hands on the counter till 1018 hours against an average sub 100,000 shares that were traded daily in past two weeks on NSE and BSE.