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Prism Johnson increases by 6% as profit and EBITDA both grow significantly

Aug 2, 2023

By: BlinkX Research Team

Prism Johnson's shares increased by almost 6% on August 2 after the company reported significant increases in profits and EBITDA.

Prism Johnson reported a net profit of Rs 20.8 crore as compared to a loss of Rs 16 crore the previous year. On the other hand, high demand helped revenue increase by 7% YoY to Rs 1,942.2 crore from Rs 1,811.1 crore in the same quarter the previous year.

Prism Cement comprised 50% of revenue in the June quarter, followed by HRJ, a manufacturer of ceramic tiles, at 30%, and Prism RMC, a manufacturer of ready-mixed concrete, at 20% of sales.

EBITDA increased by about 26% YoY to Rs 151.7 crore, while operating margin increased from 6.6% to 7.8%.

The largest integrated building materials company in India, Prism Johnson offers a variety of products, including cement, ready-mixed concrete, tiles, sanitaryware, and bath fixtures.

The Ramco Cements has received approval from Hyderabad-based Prism Johnson to acquire specific limestone-bearing land parcels in the Andhra Pradesh villages of Kalvatla and Kotapadu aggregating 1,420.72 acres.

Source: Media Reports