HEG Q2 Results 2024 on 15 Nov, 2024: profit falls by 14.27% YOY, profit at ₹82.28 crore and revenue at ₹567.6 crore | Company Business News-OxBig News Network

HEG Q2 Results 2024:HEG Limited announced its Q2 results for the fiscal year 2024 on November 13, revealing a challenging quarter for the company. The topline revenue for the quarter stood at ₹567.6 crore, reflecting a decrease of 7.58% year-on-year.

In terms of profitability, HEG reported a net profit of ₹82.28 crore, which indicates a decline of 14.27% compared to the same period last year. However, when compared to the previous quarter, the company witnessed a slight revenue decline of 0.68%, while profit saw a significant increase of 257.12%.

The company’s selling, general and administrative expenses have shown some improvement, declining by 5% quarter-over-quarter and decreasing by 2.12% year-on-year. This reflects HEG’s efforts to manage costs amid a challenging market environment.

Notably, HEG’s operating income surged by 654.71% on a quarter-over-quarter basis, although it still decreased by 22.88% year-on-year. This highlights the volatility in HEG’s operational performance as it navigates fluctuating market conditions.

Earnings per share (EPS) for the quarter stood at ₹4.26, marking a significant decline of 82.87% year-on-year, which may raise concerns among investors regarding the company’s profitability trajectory.

In terms of stock performance, HEG has faced some headwinds with a return of -7.95% over the last week and a -13.44% return over the past six months. However, the stock has managed a positive year-to-date return of 7.48%.

As of November 15, 2024, HEG holds a market capitalization of ₹7915.94 crore, with a 52-week high of ₹548.6 and a low of ₹310.8. This performance indicates the stock’s volatility in recent months.

Among analysts covering HEG, the sentiment appears cautiously optimistic, with one analyst issuing a Buy rating and another providing a Strong Buy rating. The consensus recommendation as of November 15, 2024, has been categorized as a Strong Buy.

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