Prism Cement’s Q2 net declines 52%

Prism Cement’s Q2 net declines 52%
Published: 06 January 2009

Prism Cement Ltd posted 52 per cent fall in net profit during the second quarter of the financial year ending June 30, 2009.

The company reported a net profit of Rs 31.03 crore for the quarter ended December 31,2008 as compared to Rs 64.45 crore in the comparable period last year. Sales of the company, however, declined marginally at Rs 250.79 crore from Rs 267.85 crore in the period under consideration.

Net profit nosedived 60.41 per cent to Rs 46.04 crore for the half year ended December 31, 2008 as compared to Rs 116.29 crore in the same period last year. Turnover also fell heavily at Rs 443.27 crore in the first half of this year as compared to Rs 488.44 crore in the comparable period last year.