HEG soars 13% on strong Q2 results; Graphite India rallies 9%

HEG said the company had undertaken an expansion project in past to increase the existing capacity from 80,000 tons to 100,000 tons and the same is going on in full swing

Shares of graphite electrode manufacture were in focus, with HEG ralling as much as 13 per cent to Rs 2,316.65 on the BSE in Tuesday’s intra-day trade after the company reported a consolidated net profit of Rs 131.52 crore for September quarter (Q2FY22), on healthy revenue growth. It had posted a consolidated net loss of Rs 15.36 crore in Q2FY21 and a profit of Rs 56.77 crore in Q1FY22.

The company’s revenue from operations grew 60 per cent year on year (YoY) to Rs 517.56 crore from Rs 322.88 crore in the corresponding quarter of previous fiscal. It posted