HEG surges 9% on robust Q4 results

The stock rallied 9% to Rs 3,198 after the company reported net profit of Rs 6.34 billion in March quarter against loss of Rs 34 million in year ago quarter.

Shares of HEG have moved higher by 9% to Rs 3,198 per share, extending their past three days 5% gain on the BSE, after the company reported net profit of Rs 6.34 billion in March quarter (Q4FY18), on back of strong operational income. It had posted net loss of Rs 34 million in year ago quarter.

The company engaged in graphite electrodes business has seen its operational revenues grow nearly five-fold at Rs 12.92 billion in Q4FY18 as against Rs 2.67 billion in Q4FY17.

HEG posted consolidated net profit of Rs 10.99 billion for entire financial year 2017-18