NEW DELHI | Jun 30, 2015: Integrated steel and power firm Prakash Industries today said it has fully paid the additional levy of Rs 249.07 crore with the Coal Controller against its Chotia coal block.
In a BSE filing, Prakash Industries informed that it has "deposited Rs 14.85 crore on June 29, 2015, thereby making full and final payment of Rs 249.07 crore with the Coal Controller, Ministry of Coal, towards the additional levy against its Chotia Coal Block in terms of the order of the Supreme Court of India."
Earlier in December 2014, the company had paid Rs 234.22 crore, it added.
Prakash Industries has an integrated steel plant at Champa (Chhattisgarh). The firm was allotted three coal blocks at Chotia, Madanpur and Fatehpur in Chhattisgarh.
For 2014-15, the company's net profit recorded a sharp decline to Rs 9.34 crore from Rs 173.16 crore in 2013-14. Its total income rose to Rs 2,836.41 crore from Rs 2,596.62 crore during the same period.
Shares of the company today rose by 5.07 per cent to settle at Rs 32.15 per share on the BSE.
(Source: http://economictimes.indiatimes.com/)