Prism Johnson delivered an extraordinary turnaround in the June quarter, with consolidated net profit surging 4003.54% to ₹104.23 crore compared to ₹2.54 crore in the corresponding period last year. According to latest reports from Business Standard, this profitability boost was primarily driven by a one-time exceptional gain of ₹33 crore, which contrasted with no exceptional items in the year-ago quarter. The company described this as one of its strongest quarterly performances on record.
Revenue from operations showed steady growth, increasing 1.72% year-on-year to ₹1,811.36 crore from ₹1,780.72 crore in the previous year. As reported by Business Standard, the company's operating performance demonstrated significant improvement with EBITDA rising 50% year-on-year to ₹209.39 crore from ₹139.46 crore, while EBITDA margin expanded to 12.17% from 9.78% a year earlier. The company attributed this performance to robust execution in its H&R Johnson tiles business and Prism RMC, while the cement business remained resilient despite softer market conditions.
Prism Johnson completed the divestment of its 51% stake in Raheja QBE General Insurance for ₹325.87 crore, which was completed on July 1. According to CNBC TV18 reports, this transaction is expected to sharpen the company's focus on core building materials businesses and accelerate deleveraging. The company also continued strengthening its balance sheet through debt reduction, with standalone gross debt reducing to ₹493 crore as of August 6 from ₹1,048 crore as of June 30.
Despite the strong quarterly results, shares of Prism Johnson have cooled from initial highs, now trading just 4% higher at ₹117.8. As reported by CNBC TV18, the stock is down 15% so far for the year. Management highlighted that disciplined cost management, operational efficiencies and calibrated pricing actions helped offset headwinds including elevated fuel costs, raw material inflation following the Middle East crisis, and competitive pricing environment in the cement industry.
