JSW Infrastructure Q4 profit rises 9% to Rs 329 cr

New Delhi: JSW Infrastructure on Friday reported 9 per cent increase in consolidated net profit to Rs 329 crore for the fourth quarter ended March 2024.

The company had clocked a profit of Rs 302.26 crore in the corresponding period of the previous fiscal, it said in a BSE filing.

Total income increased to Rs 1,200.30 crore from Rs 973.20 crore in the year-ago period. Total expenses also rose to Rs 782.93 crore from Rs 677.77 crore.

The company's board has recommended a dividend of 55 paise per share.

In a separate statement, the company said it handled cargo volume of 29.3 million tonnes (MT) during the quarter, which is higher by 9 per cent year-on-year.

The increase in volume is primarily on the back of increased capacity utilisation at the Paradip Coal Terminal and Mangalore Coal Terminal.

The third-party volume grew 35 per cent year-on-year and the share of third-party in the overall volumes stood at 46 per cent against 37 per cent a year ago.

During the period, the company won a bid for a 7 million tonne per annum dry bulk terminal in Tuticorin through PPP (public-private partnership) mode and signed concession agreement with Jawaharlal Nehru Port Authority for two liquid berths of 4.5 mtpa.

As of March 31, its gross debt was at Rs 4,381 crore.

JSW Infrastructure, a part of JSW Group, is India’s second-largest private commercial port operator. The company listed on the bourses in October 2023.

It aims to increase its cargo handling to 400 mtpa by FY 2030 or earlier from the existing 170 mtpa.