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 Indian construction materials maker Prism Johnson on Wednesday posted a bigger-than-expected quarterly loss, as cement prices persistently declined and demand remained tepid.

The company's consolidated net loss stood at 897.9 million rupees ($10.6 million) in the three months ended Sept. 30, marking a second straight quarter of losses. Prism Johnson had reported a net profit of 1.83 billion rupees a year ago.

The reported loss is also bigger than the analysts' estimates of a 122.8 million rupee loss, as per data compiled by LSEG.

Average cement prices slumped to a 51-month low around July-end and the first half of August, and only rose marginally in the later part of the quarter, Elara Capital said in a note.

Prices for the overall quarter declined 7% year-on-year, the brokerage added.

Demand in the reported quarter was also largely muted as the industry, already hit by an election-linked slowdown in construction activity in the June quarter, did not see any improvement due to above-average rainfall in the country.

The company's net sales dropped 5.2% to 16.39 billion rupees, owing to a 17% decline in its cement business, which makes up 37% of the revenue.

Prism Johnson's other two businesses - tiles and concrete mix - posted a 1% and 0.4% drop in revenues in their respective segment.

The company's shares, which were in the red ahead of results, fell 2.5% post results.

India's top cement maker, UltraTech Cement, missed second-quarter profit estimates on lower prices and bleak demand.

($1 = 84.3900 Indian rupees)