JSW Infrastructure, the ports business of Sajjan Jindal-led JSW Group, has posted an 8.9% rise in consolidated net profit at Rs 329.08 crore for the quarter ended in March, mainly due to rise in volumes of cargo handled during the period.
The firm had posted a net profit of Rs 302.26 crore for the same quarter of FY23, the company said in a statement.
The firm’s revenue from operations rose 19.8% to Rs 1,096.38 crore from Rs 915.30 crore. During the quarter, the company handled cargo volumes of 29.3 million tonne, up by 9% over the last year. The rise in the volume was primarily on the back of increased capacity utilisation at the Paradip Coal Terminal and Mangalore Coal Terminal.
JSW Infrastructure has embarked on a growth plan to increase its cargo handling capacity by 2.4 times to 400 MTPA by FY30 or earlier, from the existing 170 MTPA, a compounded annual growth rate of 15%.
Moreover, privatisation bids of terminals and berths across major ports and the inorganic opportunities in ports and port-related infrastructure are the additional levers to accelerate the growth, it added.