Prakash Industries said that on 15th February 2025 it has commenced coal extraction from its Bhaskarpara Commercial Coal Mine.
Starting from 15th February 2025, the company began dispatching coal to its integrated steel plant in Champa, Chhattisgarh. The coal supplies from the mine are expected to bring significant cost reductions and enhance operational efficiencies at the plant.On 22nd November 2024, the company announced that the Government of Chhattisgarh had executed the mining lease, which had been duly registered in the companys favor for the mining of coal over a 30-year period at its Bhaskarpara Commercial Coal Mine in Surajpur, Chattisgarh.
Prakash Industries is an integrated manufacturer of finished steel products using the direct reduction iron (DRI) route.
The companys consolidated net profit increased 3.9% to Rs 83.74 crore in Q3 FY25 as compared with Rs 80.56 crore in Q3 FY24. Net sales rose 4.6% YoY to Rs 925.95 crore in Q3 FY25.
The counter shed 0.64% to Rs 139 on Friday, 14 February 2025.
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