India’s Prism Cement has reported a net profit of Rs.13.24 crore in the June quarter against a net loss of Rs.47.87 crore for the same quarter last year. The company attributes the gain to higher sales and improved margins in the cement industry, thanks to cost-saving measures and higher demand.
In the April – June period, total income rose to Rs.1389 crore from Rs.1134 crore in the same period last year. Sales of cement and clinker reached 15.39 lakh tonnes and Rs.600 crore. Higher revenue from both the cement and tile-bath-kitchen division contributed to the company’s overall growth.
Prism Cement operates a cement plant in Satna, Madhya Pradesh, producing 5.6 million tonnes of cement per annum.
Ramco Cements witnessed a decrease in 1Q15 net profit, compared to the same period a year earlier, due to continued sluggishness in the domestic cement market.
Increased sales volumes and cost efficiencies boost profits for the Indian cement company, which reported a 157.7% rise in net profit for the June quarter.
ACC has reported a 4% increase in sales volumes thanks to increasing demand, but also alludes to the challenges of increasing manufacturing and distribution costs.