Parāçara said:—Maitreya, hear the interesting story of the wise, high-souled and magnanimous Prahlāda. In the days of yore the three worlds were brought into subjection by the valiant son of Diti—Hiranyakashipu, proud of the boon conferred on him by Brahmā. That Daitya had usurped the sovereignty of Indra and exercised the functions of the sun of air, of the lord of waters, of fire and of the moon.

In plain words: Parashara begins the story of the wise boy Prahlada. Long ago, Prahlada's father, the demon king Hiranyakashipu, was proud of a gift of power from the god Brahma. With it he conquered the three worlds. He took over Indra's throne and did the jobs of the sun, the wind, the waters, fire and the moon.