HEG posts healthy earnings in Q3, profit jumps 153% to Rs 867 cr

HEG Q1 | Profit at Rs 14.33 crore versus Rs 243.47 crore, revenue at Rs 233.3 crore versus Rs 816.5 crore YoY. (Image: hegltd.com)

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Carbon and graphite product manufacturing company HEG has reported healthy earnings for the quarter ended December 2018 as profit jumped 153.5 percent year-on-year to Rs 867 crore on strong revenue as well as operating income.

Profit in corresponding period last fiscal stood at Rs 342 crore.

Revenue from operations increased 121 percent to Rs 1,865 crore in quarter ended December 2018 YoY, the company said.

At operating level, EBITDA (earnings before interest, tax, depreciation and amortisation) shot up 135.60 percent year-on-year to Rs 1,313.5 crore and margin expanded 420 bps to 70.4 percent in Q3FY19.

The stock closed at Rs 2,349, up Rs 137.90, or 6.24 percent over previous settlement.