India's Prism Johnson posts profit after four straight quarterly losses on tax gains

Prism Johnson

06/02/2025 08:44

Feb 6 (Reuters) - Indian construction materials maker
Prism Johnson  PRIS.NS  reported a profit for the first time in
five quarters on Thursday, helped by tax gains related to
previous periods. 
    The company reported a net profit of 481.2 million rupees
($5.5 million), during the October-December period, compared
with a loss of 34.5 million rupees a year ago.
    Shares of the Hyderabad-based company spiked up to 8% after
the results, before losing all of its gains. 
    However, at a pre-tax basis, the company's net loss widened
to 337.1 million rupees, from 89.7 million rupees a year
earlier.
    Net sales rose 6% on strong performance in its insurance and
tilemaking segments, which cushioned weakness in cement and
ready-made concrete businesses.
    Cement companies have so far reported a mixed set of
earnings in the quarter, where they grappled with soft demand
and weak prices.
    Strong volumes boosted market leader UltraTech  ULTC.NS ,
its rival Adani Group's cement businesses Ambuja  ABUJ.NS  and
ACC  ACC.NS , while smaller company Dalmia Bharat  DALB.NS  took
a hit in the quarter due to lower prices.
    Cement business, which formed around 39% of the topline, saw
a 2.5% drop in sales. Revenue from ready-made concrete
businesses also saw a fall of 6.5%. 
    However, other businesses helped offset the impact. The
tilemaking segment rose 4.8%, while insurance business surged
over threefold. 


($1 = 87.5370 Indian rupees)

 (Reporting by Vijay Malkar in Bengaluru; Editing by Rashmi
Aich)
 ((VijayDattaram.Malkar@thomsonreuters.com; +91 8097833031;))