Prakash Industries, MP govt ink Rs 4,500 cr MoU

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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.


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