Prakash Industries, MP govt ink Rs 4,500 cr MoU
New
Delhi,
Oct
29:
Prakash
Industries
Ltd
today
said
it
has
entered
into
a
Rs
4,500
crore
MoU
with
the
Madhya
Pradesh
Government
to
establish
and
operate
1,000
MW
Thermal
Power
Station
at
Sohagpur.
The company would be entitled to wheel the power through MP Transco / Other Grid Lines or its own dedicated lines for its own use or for its customers, a company statement said.
Prakash Industries posted 70 per cent jump in net profit at Rs 55 crore for the quarter ended September 30, as against Rs 31 crore in the corresponding quarter in the previous year.
Total income of the company increased by 40 per cent to Rs 330 crore in the second quarter, as against Rs 235 crore for the corresponding period last year.
UNI
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Story first published: Monday, October 29, 2007, 13:32 [IST]