Prism Johnson posts net profit of Rs 183 crore in Q2 FY24, Real Estate News, ET RealEstate

November 3, 2023

NEW DELHI: Prism Johnson has reported net consolidated profit after tax of Rs 183.14 crore during the quarter ended September 30, 2023. It had registered loss after tax of Rs 82.62 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s net consolidated total income stood at Rs 1,845.98 crore in Q2 FY24, a growth of 10.55 per cent from Rs 1,669.81 crore it recorded in the similar quarter last year.

During the quarter ended September 30, 2023, the company has transferred the mining lease and sold certain freehold land parcels, etc with regards to Andhra Pradesh project to The Ramco Cements and has recognised a gain of Rs 390.48 crore, it said in the regulatory filing.

As on September 30, 2023, its net worth stood at Rs 1,410.27 crore, outstanding debt was Rs 1,296.15 crore, debt-equity ratio was 0.92, current liability ratio was 53.65%, total debts to total assets ratio was 19.52%, operating margin was 5.34% and net profit margin was 10.58%.

Prism Cement constituted 45% of Q2 FY24 revenues; HRJ constituted 35% and Prism ready-mixed concrete (RMC) constituted 20% of the overall revenue during the quarter. Annualised ROCE increased by 370 bps year-on-year to 0.3% in Q2 FY24; Capital employed decreased by 10.2% year-on-year to Rs 2,361 crore in Q2 FY24.

Cement & clinker sales volume grew by 12.7% year-on-year to 1.45 million tons in Q2 FY24, Tiles sales volume (consolidated) grew by 11.6% year-on-year in Q2 FY24 to 14.1 million m2 and ready-mixed concrete sales volume grew 9.7% year-on-year during Q2 FY24.

  • Published On Nov 3, 2023 at 12:30 PM IST

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