HEG slipped 5.94% to Rs 1,656.80 after the company's consolidated net profit declined 58.28% to Rs 43.67 crore in Q3 FY24 as against Rs 104.69 crore posted in Q3 FY23.
Revenue from operations stood at Rs 562.40 crore in December 2023 quarter, registering a growth of 6.06% YoY.Profit before tax in Q3 FY24 was at Rs 59.42 crore, down 57.27% from Rs 139.06 crore recorded in the corresponding quarter previous year.
On nine-month basis, the company recorded 35.57% YoY decrease in consolidated net profit to Rs 278.76 crore in 9M FY24. Revenue from operations declined marginally to Rs 1,848 crore in 9M FY24 from Rs 1,850.36 crore posted in the corresponding period previous year.
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.
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