Prism Cement jumps on profit surge

Prism Cement jumps on profit surge
Published: 18 January 2007

Prism Cement recorded nearly 10 per cent gain to close at Rs 41.60, following the announcement of a fifteen-fold jump in December quarter profits.

Over 2.8 million shares were traded on the counter, with pending buy orders for close to a million shares at the end of the session. In the quarter ended December 2006, the company reported a net profit of Rs 50.09 crore compared with Rs 3.35 crore in the same quarter last year, while net sales rose 50 per cent to Rs 190.01 crore.