JSW Infra, the ports arm of the Sajjan Jindal-led JSW Group, has announced an 8.9% surge in consolidated net profit, reaching Rs 329.08 crore for the quarter ending March. This notable upswing is primarily attributed to the increased volumes of cargo handled during this period.
According to a statement released by the company, it had achieved a net profit of Rs 302.26 crore for the corresponding quarter of the previous fiscal year, FY23.
The company’s revenue from operations experienced a substantial uptick, marking a 19.8% increase to Rs 1,096.38 crore from Rs 915.30 crore. Notably, during the quarter under review, cargo volumes surged to 29.3 million tonnes, reflecting a 9% rise compared to the previous year. The surge in volume was primarily driven by increased utilization of capacity at both the Paradip Coal Terminal and the Mangalore Coal Terminal. -JSW Infra
JSW Infrastructure has set out on an ambitious growth trajectory, aiming to amplify its cargo handling capacity by 2.4 times to reach 400 million tonnes per annum (MTPA) by fiscal year 2030, or possibly earlier. This expansion plan represents a compounded annual growth rate (CAGR) of 15%, significantly bolstering its current capacity of 170 MTPA.
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Furthermore, JSW Infrastructure highlighted that the privatization bids for terminals and berths within major ports, along with potential inorganic opportunities in ports and port-related infrastructure, serve as additional catalysts to expedite its growth trajectory.
