JSW Infrastructure Q2 Profit Up 40% to Rs 374 Crore

New Delhi, Oct 28 (PTI) JSW Infrastructure on Monday reported around 40 per cent rise in consolidated net profit to Rs 373.73 crore in the September quarter, aided by higher income.

Its net profit for the period was Rs 266.87 crore in the July-September period of the preceding 2023-24 fiscal, the company said in an exchange filing.

Its total income rose to Rs 1,088.19 crore against Rs 895.48 crore in the year-ago period.

Expenses were trimmed to Rs 534 crore from Rs 567.32 in the same quarter last fiscal.

In a statement, the company said it handled cargo volumes of 27.5 million tonnes during the quarter, 16 per cent higher than the same period of the last financial year.

The volume rise was driven by the increased capacity utilisation at the coal terminals of Mangalore (Karnataka), Paradip (Odisha) and Ennore (Tamil Nadu) and the contribution from the acquisitions (PNP and Liquid Storage Terminal, UAE).

During the quarter, JSW Infrastructure emerged as the winning bidder for the development of a greenfield port at Murbe in Maharashtra.

The port is designed to be an all-weather, multi-cargo commercial port. The proposed port is located near major highways such as the National Highway 8 and the state highway (Boisar Road) and rail corridors such as the Delhi-Mumbai trunk rail route and the Dedicated Western Freight Corridor.

Part of JSW Group, JSW Infrastructure is the second largest private commercial port operator in India having seaports and terminals.

It 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 4,65,000 cubic meters in Fujairah, UAE.