Prism Cement has signed an agreement for mining, development and operation of its Sial Ghogri Coal Block near Chhindwara, Madhya Pradesh with India Resources, Australia and its wholly owned Indian subsidiary - IRL Coal India. The mined coal will be used for captive consumption of the cement plant located at Satna, Madhya Pradesh.
India Resources is an Australia-based company presently engaged in underground mining in India.
Prism Cement is cement manufacturing company. The company manufactures and markets Portland Pozzollana Cement (PPC) under the brand name ‘Champion’ which is company’s largest selling product.
The company has reported a net loss for the quarter at Rs 9.97 crore as compared to a net profit of Rs 55.90 crore for the quarter ended June 30, 2010. Its total income has increased by 36.01% to Rs 989.12 crore for the quarter under review from Rs 726.82 crore for the corresponding quarter of the previous year.
