World No 56 Prannoy, who has been in rollicking form in the Indian badminton League last month, once again punched above his weight, surpassing Denmark's Jan O Jorgensen, ranked ninth, 21-14 13-21 21-17 in a 53-minute match.
Srikanth, who has also acquired a giant-killing reputation with his recent exploits, continued his carnage, defeating Japan's Kazuteru Kozai 21-12 21-16 in just over half an hour in another men's singles match.
India's men's doubles pair of Manu Attri and Sumeeth Reddy B also could not get across the more experienced combo of fourth seeded Chinese Xiaolong Liu and Zihan Qiu and lost 17-21 16-21 in a 36-minute encounter.
The highlight of the day for India was Prannoy's gritty performance as he rode on his mighty smashes and energetic display at the nets to tame the 25-year-old Dane, who had won the silver medal at 2010 European Badminton Championships.