You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

HEG spurts on reporting Q2 PAT at Rs 132 cr

Capital Market 

HEG rose 6.92% to Rs 2194.45 after the company reported consolidated net profit of Rs 131.52 crore in Q2 September 2021 as against net loss of Rs 15.36 crore in Q2 September 2020.

On a consolidated basis, net sales rose 60.29% to Rs 517.56 crore in Q2 September 2021 over Q2 September 2020.

Pre-tax profit stood at Rs 148.01 crore in Q2 September 2021 compared with pre-tax loss of Rs 46.84 crore in Q2 September 2020.

During the quarter, total expenses rose 2.27% YoY to Rs 394.90 crore. Employee expense surged 70.66% YoY to Rs 21.35 crore. Raw material cost increased 20.83% YoY to Rs 191.26 crore.

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. There was a few months delay due to Covid and the management expects the expansion project to be completed in the quarter Oct-Dec'22. Commercial production is expected from early 2023, HEG said in a statement.

HEG is India's leading graphite electrode manufacturer. It has one of the largest integrated Graphite Electrode plants in the world, processing sophisticated UHP (Ultra High Power) Electrodes. The company exports over 70% of its production to more than 30 countries of the world.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 10 2021. 09:32 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU