Prism Cement posts Q1 net of Rs 15.65 cr

Prism Cement today reported a standalone net profit of Rs 15.65 crore for the quarter ended June 30 against a net loss of Rs 14.90 crore in the year-ago period.
Total standalone income of the company was marginally lower at Rs 1,409.61 crore in April-June quarter this fiscal from Rs 1,417.65 crore during the same quarter in 2014-15.
The company's expenses were lower at Rs 1,351.97 crore from Rs 1,392.57 crore during the period under review.
Prism Cement also announced that its Board has appointed Shobhan Thakore - Non-executive Independent Director -- as the Chairman of the Board of Directors with immediate effect.

The company has taken several cost rationalisation measures over the last couple of years such as resorting to imported coal, increase in pet coke consumption, reduction in power consumption amongst others.
On outlook, it said: "While the near term demand outlook remains challenging also due to seasonality, demand scenario for all the three divisions is expected to pick up in the second half of 2016-17 on the back of better than normal monsoon and arrears from pay commission.