HEG dips 8% after profit falls 69% YoY in June quarter

During the quarter under review, the stock of the company dipped 31 per cent, as against a 1.3 per cent decline in the Sensex.

Shares of HEG slipped up to 8 per cent to Rs 929 on the BSE during the early morning deals on Friday after the company reported a 69 per cent decline in its consolidated net profit at Rs 243 crore during the June quarter of fiscal year 2019-20 (Q1FY20), due to lower realisation. The graphite electrode manufacture had posted profit of Rs 776 crore in year ago quarter.
 

Operational revenue during the quarter dipped 48 per cent to Rs 816 crore from Rs 1,587 crore reported in Q1FY19. EBITDA (earnings before interest, taxes, depreciation, and amortization) margin contracted to 42.6