India's HEG falls on drop in March-quarter profit

HEG Advanced Materials

23/05/2023 09:41

** Shares of HEG Ltd  HEGL.NS  fall as much as 7.75% after
co reports 23% YoY fall in March-qtr consolidated profit
    ** Consolidated revenue from operations also falls 8%
    ** Core profit down 21.3%, core profit margin contracts to
20.1%
    ** Co says it will further invest in equity shares of unit
TACC up to 900 mln rupees
    ** Stock posts steepest intraday pct decline in 15 months
    ** Stock is most active in nearly three weeks, with a
trading volume of ~674,000 shares as of 2:03 p.m. IST -
Refinitiv data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))