Prism Cement PAT turns negative in Q2FY18
Nidhi Jani / 08 Nov 2017
The company's cement volumes were impacted due to near complete sand mining ban in UP and Bihar, which together constitutes approximately 70 per cent of the volume.
Prism Cement reported its results for the quarter ended September 30, 2017 on Tuesday. Total sales for Q2FY18, came in at Rs. 1,165.2 crore. This represents 18.9 per cent sequential decline and 8 per cent YoY decline.
Operating profit (EBIT) for the recently concluded quarter amounted to Rs. 4.4 crore and the EBIT margin stood at 0.37 per cent.
It reported net loss of Rs. 23.87 crore in Q2FY18 versus net profit of Rs. 16.69 crore in its preceding quarter.
The company's cement volumes were impacted due to near complete sand mining ban in UP and Bihar, which together constitutes approximately 70 per cent of the volume. Further, a slowdown in the execution and new launches of real estate projects due to RERA registration of existing projects impacted volumes of Tiles and Ready Mixed Concrete (RMC) segment.
On Wednesday, the stock of Prism Cement opened at Rs. 112.40 per share and touched an intra-day low of Rs. 107.90 per share on the BSE.
Prism Cement Limited is one of India’s leading integrated building material’s company with a wide range of products from cement, RMC, tiles, bath products to kitchens.
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