BENGALURU, Nov 3 Reuters Indian building materials maker Prism Johnson reported a secondquarter profit on Friday, compared to a loss a year ago, helped by a onetime gain from the sale of some assets.

Consolidated profit after tax was at 1.83 billion rupees 21.98 million in the quarter ended Sept. 30. The cement and tiles maker had reported a loss of 826.2 million rupees in the same quarter a year earlier.

The firm recognised a onetime gain of 3.9 billion rupees from the sale of a mining lease and land in the state of Andhra Pradesh to Chennaibased Ramco Cements.

The firm reported a narrower loss of 380.8 million rupees before the exceptional item and taxes from a loss of 952 million rupees a year ago, on strong cement sales.

Total expenses rose 6.7 to 18.84 billion rupees.

Last month, cement maker UltraTech Cement topped secondquarter revenue estimates on strong domestic demand, while ACC posted a biggerthanexpected profit.

Prism Johnson39;s net sales rose nearly 6 to 17.30 billion rupees. Its revenue from the cement segment, which accounts for more than half of overall sales, climbed more than 16.

Shares of the company rose as much as 4.9 to 146.8 rupees after the results were announced. They rose 1.3 during the JulySeptember period.

1 83.2600 Indian rupees

Source Reuters