Graphite electrodes producer, HEG’s consolidated net profit slumped 95% y-o-y to INR 10.76 crore and net sales declined by 71% to INR 233.29 crore in Q1 June 2020. With the announcement of nationwide lockdown in India in late Mar’20, HEG’s operations were suspended for a month, adversely impacting its financials for Q1 FY21 ended on 30 Jun’20.
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