Prism Johnson gains 6% on strong growth in profit, EBITDA

Shares of Prism Johnson gained around 6 percent on August 2 after the company reported strong growth in profit and EBITDA. At 1:07 pm, shares of the company were trading 5.3 percent higher at Rs 130.2 on the BSE.

Prism Johnson‘s net profit came in at Rs 20.8 crore as compared to a loss of Rs 16 crore posted a year ago. Whereas, revenue rose 7 percent YoY to Rs 1,942.2 crore from Rs 1,811.1 crore in the corresponding quarter last fiscal, on the back of strong demand.

Prism Cement constituted 50 percent of revenue in the June quarter, while ceramic tile manufacturer HRJ constituted 30 percent and ready-mixed concrete manufacturer Prism RMC constituted 20 percent of sales.

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EBITDA rose nearly 26 percent YoY to Rs 151.7 crore while operating margin expanded to 7.8 percent from 6.6 percent a year ago.

Prism Johnson is amongst the largest integrated building materials companies in India, with a wide range of products, namely cement, ready-mixed concrete, tiles, sanitaryware, and bath fittings.

Recently, the Hyderabad-based Prism Johnson had approved the transfer of certain limestone-bearing land parcels in Kalvatla and Kotapadu villages in Andhra Pradesh aggregating to 1,420.72 acres to The Ramco Cements.