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Prism Cement reports June quarter loss

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World Cement,

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.

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