Mumbai: Prism Cement today said that its second quarter net profit has declined by 52% at Rs31.03 crore from the same quarter last year.
In a filing to the Bombay Stock Exchange, the company announced that it had a net profit of Rs64.45 crore in the same quarter FY’08.
Net sales of the company decline to Rs214.79 crore in the quarter under review, against Rs228.11 crore in the same period a year ago.
Further, the board has changed the financial year of the company to nine-months period starting from 1 July 2008 to end on 31 March 2009.
Earlier, the company had financial year for 12 months period starting from 01 July 2008 to 30 June 2009, it added.
Shares of the company were trading at Rs22.40, up 6.92% on the Bombay Stock Exchange.