Prism Johnson's Q3 rebound: Profitable quarter driven by govt-led boost
ECONOMY & POLICY

Prism Johnson's Q3 rebound: Profitable quarter driven by govt-led boost

Prism Johnson, the building materials manufacturer in India, reported a profitable third quarter on Thursday, marking a significant turnaround from the previous year's loss. The company's positive performance was attributed to increased government support for construction projects in anticipation of upcoming general elections.

For the quarter ending on December 31, Prism Johnson recorded a net profit after tax of 17.8 million rupees ($214,537.96), in stark contrast to the 447.4 million rupees loss in the same period the previous year. This marked the company's fourth consecutive quarterly profit.

The firm's net sales witnessed a 3% rise, reaching 16.50 billion rupees, with the cement segment contributing substantially to overall sales. The cement division saw a 6.8% increase in revenue, driven by higher sales volumes of cement and clinker. However, raw material costs experienced a 5% uptick.

The surge in construction activity over the past few quarters can be attributed to the Indian government's heightened spending in the housing and infrastructure sectors, strategically timed ahead of the general elections scheduled for May. In a similar trend, other cement manufacturers like UltraTech Cement and ACC reported quarterly profits exceeding analysts' expectations, benefiting from price hikes and sustained demand in housing and infrastructure.

Following the positive results on Thursday, Prism Johnson's shares initially rose by 1.5% to reach a session high of 183.40 rupees. However, the stock later reversed its trajectory, ending the session down by 2.9%. Notably, Prism Johnson's shares had surged over 40% in the October-December period, marking their fourth consecutive quarterly gain.

Prism Johnson, the building materials manufacturer in India, reported a profitable third quarter on Thursday, marking a significant turnaround from the previous year's loss. The company's positive performance was attributed to increased government support for construction projects in anticipation of upcoming general elections. For the quarter ending on December 31, Prism Johnson recorded a net profit after tax of 17.8 million rupees ($214,537.96), in stark contrast to the 447.4 million rupees loss in the same period the previous year. This marked the company's fourth consecutive quarterly profit. The firm's net sales witnessed a 3% rise, reaching 16.50 billion rupees, with the cement segment contributing substantially to overall sales. The cement division saw a 6.8% increase in revenue, driven by higher sales volumes of cement and clinker. However, raw material costs experienced a 5% uptick. The surge in construction activity over the past few quarters can be attributed to the Indian government's heightened spending in the housing and infrastructure sectors, strategically timed ahead of the general elections scheduled for May. In a similar trend, other cement manufacturers like UltraTech Cement and ACC reported quarterly profits exceeding analysts' expectations, benefiting from price hikes and sustained demand in housing and infrastructure. Following the positive results on Thursday, Prism Johnson's shares initially rose by 1.5% to reach a session high of 183.40 rupees. However, the stock later reversed its trajectory, ending the session down by 2.9%. Notably, Prism Johnson's shares had surged over 40% in the October-December period, marking their fourth consecutive quarterly gain.

Next Story
Infrastructure Transport

Sonowal Unveils Eight Projects at NMPA’s Golden Jubilee

Union Minister for Ports, Shipping and Waterways, Shri Sarbananda Sonowal, inaugurated the Curtain Raiser Ceremony of the Golden Jubilee Celebrations of the New Mangalore Port Authority (NMPA) at Bharat Mandapam. To commemorate the milestone, he unveiled eight major maritime infrastructure projects designed to strengthen India’s port network, enhance logistics performance, and promote sustainability. These include a modern cruise terminal, new covered storage facilities, a 150-bed multi-speciality hospital, expanded truck terminals, and improved port access infrastructure aimed at enhancing..

Next Story
Infrastructure Energy

India To Boost US LPG Imports, Cut Middle East Reliance

India is planning to reduce imports of liquefied petroleum gas (LPG) from the Middle East as state-owned refiners prepare to ramp up purchases from the United States, according to sources familiar with the matter. The move aligns with New Delhi’s efforts to expand energy cooperation and secure a broader trade deal with Washington. State refiners have already notified their traditional LPG suppliers in Saudi Arabia, the United Arab Emirates, Kuwait and Qatar of the potential reduction in imports. Although the exact size of the supply cut was not disclosed, earlier reports suggested that Indi..

Next Story
Infrastructure Energy

UK Sanctions Nayara Energy in Crackdown on Russian Oil

The United Kingdom has announced fresh sanctions on 90 entities, including Indian refiner Nayara Energy Limited, in its latest bid to curb Russian oil revenues and weaken President Vladimir Putin’s war funding. The sanctions, unveiled jointly by the Foreign, Commonwealth and Development Office (FCDO) and the UK Treasury, aim to disrupt networks supporting Moscow’s crude exports amid the ongoing war in Ukraine. According to the FCDO, the new restrictions are intended to “strike at the heart of Putin’s war funding” by targeting firms and assets that enable Russia’s energy trade. “..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?