JSW Infra rises 5% on receiving delivery of 2nd dredger from Netherlands

JSW Infrastructure got the delivery of the second dredger which aligns with the company's FY2030 growth plan to boost capacity

JSW Infrastructure shares jumped 4.6 per cent, registering an intraday high of Rs 351.6 per share, on the BSE on Monday. The up move in the scrip can be attributed to the company getting delivery of the second dredger, which aligns with the company's FY 2029-2030 (FY30) growth plan for capacity expansion.

"JSW Infrastructure, a part of the JSW Group and India's second‐largest private commercial port operator, has taken delivery of a new, state‐of‐the‐art dredger from Netherlands based IHC Dredging," the company's stock exchange filing read.

It further added: The second dredger aligns with the company's FY2030 growth plan to boost capacity from 170 million tonnes per annum (MTPA) to 400 MTPA.

The new dredger will support both greenfield and brownfield expansion projects at multiple ports of the company.

At around 10:32 AM, shares of JSW Infrastructure were up 4.14 per cent at Rs 350 per share on BSE. In comparison, the BSE Sensex traded 204.47 points higher at 84,741.59 around the same time.

JSW Infrastructure Q1FY25 results

The company reported a nearly 8 per cent year-on-year (Y-o-Y) fall in consolidated net profit to Rs 296.5 crore for Q1FY25 on the back of increased expenses in the quarter.

In the corresponding period of the previous financial year, the company had recorded a net profit of Rs 322.2 crore.

Its total income for the quarter rose to Rs 1,103.69 crore from Rs 918.24 crore a year earlier, up 20.19 per cent. Expenses surged to Rs 712.05 crore compared to Rs 505.75 crore in the same quarter last year.

The company's earnings before interest, tax, depreciation, and amortisation (Ebitda) rose 24 per cent Y-o-Y to Rs 609 crore, while Ebitda margin stood at 55 per cent.

During the quarter, the company handled cargo volumes of 27.8 million tonnes which is higher by 9 per cent over the last year.

Since its listing on October 3, 2023, shares of JSW Infrastructure have gained 113.6 per cent against BSE Sensex's rise of 29  per cent.