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HEG Beats Estimates With 383.71% Rise In Revenue For Q4FY18
On better than expected results, stock of the companies rallies as much as 7% in intra-day trade but later pared all the gains and closed the day with gains of just 0.43% at Rs. 2937.20 on the BSE.
HEG Ltd., on Tuesday reported a net profit to the tune of Rs 634.01 crore for the quarter ended March of financial year 2018. In comparison, the company reported a net loss of Rs 3.42 crore in the corresponding period last year.
During the quarter, revenue also increased a whopping 383.71% to Rs 1,292.45 crore YoY. In the same quarter last year, the figure stood at just Rs 267.19 crore. The sales of the company increased YoY by 401% to Rs. 1,292.5 crore as against Rs. 257.8 crore in Q4FY17 due to increase in the price of graphite electrode and rising volumes.
Operating Profit (EBITDA) for the quarter stood at Rs.951 crore as against Rs.30.3 crore reported for Q4FY17. So, EBITDA margin also rallied to 73.6% in Q4FY18..
The board of directors recommended a final dividend at Rs 50 for a share for 2017-18 that is exclusive of dividend distribution tax. The dividend amount shall be paid to shareholders within 30 days from the conclusion of the annual general meeting, subject to the approval of shareholders.
The stock gained over 7% in the intra-day trade touching a high of Rs. 3,039.80. However, HEG Ltd. scrip ended the day with a gain of just 0.43% at Rs. 2937.20 on the BSE as against the previous close of Rs. 2924.55.
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