India: Prism Cement 4QFY16 profits fall 95% YoY

Prism Cement’s net profits for the quarter to 31 March 2016 fell to just INR30m (US$445,000), down 95.2 per cent YoY, reports India Infoline.

Net revenues at the company rose by 4.1 per cent YoY to INR15.9bn (US$236m), while profit margins were estimated at 6.3 per cent.

Indian producers have struggled over the past year as low prices have hit profits even as volume sales have risen.