This Article is From Aug 05, 2015

Prism Cement Posts Standalone Loss of Rs 8 Cr in Q1

New Delhi: Prism Cement on Wednesday reported a standalone net loss of Rs 8.04 crore for the quarter ended June 30, 2015.

The company had reported a net profit of Rs 13.24 crore for the corresponding period a year ago.

Net sales for the quarter ended June 2015 stood at Rs 1,365.94 crore as against Rs 1,383.91 crore in the three-month period ended June 2014, Prism Cement said in a regulatory filing.

"The highlight during the quarter was improvement in cement EBITA at Rs 507/tonne for quarter ended June 30, 2015 up from Rs 433/tonne during the quarter ended March 31,2015 despite lower volumes and realisations," the filing said. 

The company sold 13.60 lakh tonnes of cement and clinker in April-June 2015 as against 15.12 lakh tonnes in April-June 2014, it said.

While the overall volume decline including clinker was 10 per cent year-on-year, the cement volume declined by 4.8 per cent, it added.

The company took various cost rationalisation measures in 2014-15 such as resorting to imported coal, increase in pet-coke consumption, reduction in power consumption amongst others. In line with communication, the incremental benefits of these measures are reflected in the first quarter of 2015-16, the company said.

Commenting on the future outlook, the company said, "While the near term outlook remains challenging also due to seasonality, cement demand is expected to pick in the second half of 2015-16. The long term drivers for cement demand remain intact."

"Higher government spending on infrastructure, robust growth in rural housing and rising per capita incomes are likely to augur well for the cement industry."