HEG Q2 net profit slips to ₹82.30 Crore

14 Nov 2024 , 09:31 AM

HEG Ltd, a manufacturer of graphite electrodes, reported a 14.3% year-on-year (YoY) decline in net profit to ₹82.3 Crore for the second quarter ending September 30, 2024. In the previous fiscal quarter, HEG reported a net profit of ₹96 Crore.

Company’s revenue from operations slipped 7.6% to ₹567.6 Crore from ₹614.2 Crore in the previous year.

In comparison to ₹102 Crore in Q2 of FY24, operating EBITDA decreased 5.2% to ₹96.6 Crore in the second quarter of this fiscal year. In the reporting quarter, the EBITDA margin was 17%, up from 16.6% during the previous year. In comparison to ₹102 Crore in Q2 of FY24, operating EBITDA decreased 5.2% to ₹96.6 Crore in the second quarter of this fiscal year. In the reporting quarter, the EBITDA margin was 17%, up from 16.6% during the previous year.

A plan to further invest in the equity shares of HEG’s associate firm, Bhilwara Infotechnology Ltd (BIL), has been authorised by the board of directors. By making this further investment, BIL will become a wholly-owned subsidiary (WOS) of HEG.

The top producer of graphite electrodes in India today is HEG Ltd, a prestigious member of the LNJ Bhilwara group. It processes advanced UHP (Ultra High Power) electrodes and has one of the biggest integrated graphite electrode operations in the world.

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