Coal news and updates

The second quarter of fiscal 2017 was a dismal one for Prism Cements. No wonder the stock has lost 5.7% in the last seven trading sessions. Stand-alone loss narrowed to Rs21.27 crore from Rs33.26 crore year-on-year (y-o-y), aided by a rise in other income and a decrease in finance cost. However, revenue declined 9.5% y-o-y to Rs1,259.94 crore, missing the Bloomberg consensus estimate of Rs1,309.4 crore.

 

Overall Ebitda declined 6.4% to Rs32.3 crore although operating margin saw an improvement because of lower raw material and power and fuel costs. Ebitda stands for earnings before interest, taxes, depreciation and amortization.

 

Segment wise, cement volumes slipped 12.6% to 1.18 million tonnes (mt) mainly impacted by a heavy monsoon in key markets where the firm sells cement and weak construction activity led by the sand mining ban in Uttar Pradesh. Prism Cement’s operations are focused on central India.

Source: Livemint.com