Prism Johnson turns a profit in June quarter

India-based Prism Johnson saw its net sales advance seven per cent YoY to INR19.04bn (US$230.4m) in the quarter ended 30 June 2023. Over the same period, consolidated profit after tax came in at INR207.6m, compared to a loss of INR160.1m in the same period a year earlier.

Revenue from the company’s cement business, which accounts for over half its total revenue, expanded by 18 per cent YoY over the June 2023 quarter, according to Reuters. The increase in revenue has been fuelled by strong demand for cement on the back of government spending on infrastructure projects, along with a fall in input costs.