HEG Q3 PAT up 16 pc

New Delhi, Jan 30 (UNI) HEG Ltd, a graphite electrodes manufacturer today posted a 16.4 per cent increase in net profit for the third quarter ended December 2006 to Rs 16.5 crore.

While, the net revenues rose by 47.8 per cent to Rs 188.1 crore from Rs 127.3 crore in the corresponding quarter last year. Revenues from the graphite segment were higher by 21.3 per cent to Rs 137.1 crore on the back of expanded capacities and improved realisations.

All three power plants (25 MW thermal power plant, 12.8 MW waste heat recovery system power plant and the 13.5 MW hydel power plant) were operating optimally during the quarter and contributed Rs 33.2 crore towards revenues, a statement issued here said.

''Demand for graphite electrodes continues to be robust and we have booked a large part of our graphite capacities for next fiscal at better prices. Going forward, with our expanded capacities on stream and our focus on containing operating costs, we expect a better financial performance in the next year,'' company's Chairman and Managing Director Ravi Jhunjhunwala said.

UNI