Prism Cement reports Rs 20-cr standalone loss in July-Sept

Mumbai-based Prism Cement today reported Rs 20 crore standalone net loss for July-September quarter notwithstanding an improvement in sales.
The company had reported Rs 18 crore net profit in the corresponding quarter last fiscal, it said in a statement.
Sales of the company rose to Rs 1,439 crore during the reporting quarter from Rs 1,243 crore a year earlier.
Prism Cement said it produced 8.77 lakh tonnes of clinker and 12.87 LT of cement during the quarter. Sales turnover from the tiles division rose by 16 per cent to Rs 522 crore and by 7 per cent for its ready-mix concrete division.

"The margins of the cement division improved as compared to the corresponding quarter of last year on account of cost saving measures implemented and relatively healthy demand in the markets of interest," it said.
However, due to disruption in gas supply by GAIL in one of its tiles making plant in Andhra Pradesh, it had to run on high-cost fuels.
"Profitability in ready-mix concrete division continued to be under pressure due to lower capacity utilisation and increase in costs, especially fuel," Prism Cement said.