HEG Shares Tumble After Profit Falls 67%
The stock fell as much as 9.34% during the day to Rs 2,434.70 apiece on the NSE.
Shares of HEG Ltd. tumbled over 9% on Thursday after the graphite maker's consolidated net profit dropped 67% in the fourth quarter of financial year 2024.
HEG Q4 FY24 Earnings Highlights (Consolidated, YoY)
Revenue down 11% to Rs 547 crore versus Rs 617 crore.
Ebitda down 65% to Rs 43 crore versus Rs 123 crore.
Margin at 7.8% versus 20%.
Net profit down 67% to Rs 33 crore versus Rs 100 crore.
On the NSE, HEG's stock fell as much as 9.34% during the day to Rs 2,434.70 apiece, the lowest since May 17. It was trading 9.12% lower at Rs 2,442.05 per share, compared to a 0.5% advance in the benchmark Nifty at 11:29 a.m.
The share price has gained 112.08% in the last 12 months and 30.04% on a year-to-date basis. The total traded volume so far in the day stood at 3.1 times its 30-day average. The relative strength index was at 57.27.
Four out of the five analysts tracking the company have a 'buy' rating on the stock, while one recommends 'hold', according to Bloomberg data.
