HEG Apr-Jun net profit at Rs 770 cr

Graphite electrode maker HEG today reported a net profit of Rs 770 crore during the quarter ended June 30, 2018.

The company had incurred a loss of Rs 8.43 crore during the same period a year ago, HEG, part Rs 8,157 crore LNJ Bhilwara Group, said in a statement.

Graphite electrodes are used to melt scrap in electric arc furnaces to produce new steel.

During April-June 2018, the firm's revenue from operations jumped over seven-fold to Rs 1,587.38 crore from Rs 213.71 crore in the year-ago quarter.

Its expenses during the said period were at Rs 418.71 crore, higher from Rs 221.26 crore in April-June 2017.

 

The company's plant located at Mandideep near Bhopal in Madhya Pradesh is the largest single-site integrated graphite electrode facility in the world, it said.

Shares of the company today ended 0.36 per cent down at Rs 4,327.05 apiece on BSE.