 "Q4")
JSW Infrastructure – the ports business of the JSW Group – reported a 9.8 per cent uptick year-on-year (Y-o-Y) in net profit to Rs 330 crore for the January-March quarter of 2023-24.
The company’s net profit sequentially increased 32 per cent.
The port operator currently operates ten port concessions strategically located on the west and east coasts of India. Its international presence includes a liquid tank storage terminal of 465,000 cubic metres in Fujairah, UAE.
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The company’s revenue from operations rose by 19.8 per cent to Rs 1,096 crore on a year-on-year basis. Sequentially, the core revenue was up by 16.6 per cent.
“During the quarter, the company handled cargo volumes of 29.3 million tonnes, which is higher by 9 per cent over the last year. The increase in volume is primarily on the back of increased capacity utilisation at the Paradip Coal Terminal and Mangalore Coal Terminal. Newly acquired assets (PNP and Liquid Terminal, UAE) also contributed to the growth,” the company said.
During the year, the company handled cargo volumes of 106 million tonnes, which is 15 per cent higher than the previous year.
It also reported an increase in the share of third-party cargo in the overall customer mix.
“The third-party cargo volume stood at 40 per cent in FY24 versus 33 per cent a year ago,” the company said in its investor presentation for its quarterly results.
