HEG fortunes change

about 2 months ago
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From a time when HEG used to hit new highs every day and rule the gainers list, the tide seems to have reversed. Today, it is leading the pack of losers on the BSE and since yesterday, has fallen almost 16.5%. Today, it opened with a loss of around 12.5% and went down further by over 13.5% to Rs.1015.

The company posted a very poor set of numbers for Q3FY20 and the market is punishing it. It reported a consolidated net loss of Rs.1.23 crore for the Q3 v/s profit of Rs.865 crore in previous Q3. This was on a 79% drop in consolidated revenue at Rs.394 crore.

Operating profit fell almost 100% to Rs.5 crore and margins literally crashed from 70.4% to 1.2%.

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