Prism Johnson posts net profit of Rs 20.76 crore in Q1 FY24, Real Estate News, ET RealEstate

August 27, 2023

NEW DELHI: Prism Johnson has reported net consolidated profit of Rs 20.76 crore during the quarter ended June 30, 2023. It had recorded net consolidated loss after tax stood of Rs 16.01 crore in the corresponding quarter of the previous fiscal, the company said in the regulatory filing.

The company’s net consolidated total revenue stood at Rs 1,956.60 crore, a growth of 7.69 per cent from Rs 1,816.85 crore it recorded in the similar quarter last year.

Subsequent to the end of the quarter and on receipt of statutory approvals, the company has executed relevant agreements to transfer the mining lease and transfer/release certain assets and benefits pertaining to the Andhra Pradesh project in favour of The Ramco Cements.

As on June 30, 2023, the company’s net worth stood at Rs 1,228.99 crore, outstanding debt was Rs 1,446.72 crore, debt-eqiuty ratio was 1.18, current liability ratio was 52.01%, total debts to total assets was 22.47%, operating margin was 7.97% and net profit margin was 1.09%.

Prism Cement constituted 50% of Q1 FY24 revenues while HRJ constituted 30% and Prism RMC constituted 20% of the overall revenue. Overall company’s EBITDA declined by 5.1% year-on-year in Q1 FY24; Prism Cement’s EBITDA/ton declined from Rs 750 in Q1 FY23 to Rs 673 mainly due to higher freight and forwarding costs. HRJ’s EBITDA declined from Rs 46 crore in Q1 FY23 to Rs 28 crore in Q1 FY24.

Cement & clinker sales volume grew by 20.8% year-on-year to 1.74 million tons in Q1 FY24; share of premium cement increased from 29% in Q1 FY23 to 34%. Tiles sales volume (consolidated) grew by 0.9% year-on-year in Q1 FY24 to 13.3 million m2, domestic tiles sales volume grew 1.2% year-on-year. Ready-mixed concrete sales volume grew 4.8% year-on-year during Q1 FY24.

  • Published On Aug 2, 2023 at 01:30 PM IST

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