India’s Prism Cement reported a net loss of Rs.8.04 crore for the June quarter, from a profit of Rs.13.24 crore in the same period last year. Net sales were Rs.1365.94, down from Rs.1383.91 crore, while EBITA improved to Rs.507/t of cement from Rs.433/t in the previous quarter ending 31 March.
Cement and clinker sales volumes dipped to 13.60 lakh t from 15.12 lakh t in the June 2014 quarter. The company reported a 10% y/y decline in volumes overall, but a 4.8% decline in cement sales volumes.
The company maintains optimism for the future, commenting that the long-term drivers for cement demand remain intact.
Jaiprakash Associates is reported to be considering selling another cement plant – this time to Shree Cement, while UltraTech has commented on those Lafarge-Holcim rumours.