JSW Infrastructure on Friday reported a 9 per cent increase in its consolidated net profit at Rs 329 crore for the fourth quarter ended March 2024. The company had recorded a profit of Rs 302.26 crore in the corresponding period of the financial year precedent, she said in a filing with the ESB. .
Total income increased to Rs 1,200.30 crore from Rs 973.20 crore during the same period a year ago. Total expenditure also increased to Rs 782.93 crore from Rs 677.77 crore. The company’s board of directors 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, an increase of 9 percent year-on-year. The increase in volume is mainly due to increased capacity utilization at Paradip coal terminal and Mangalore coal terminal.
Third-party volume increased by 35 percent year-on-year and third-party share of overall volumes rose to 46 percent compared to 37 percent a year ago.
During the period, the company won a tender for a 7 million tonnes per annum dry bulk terminal at Tuticorin under PPP (public-private partnership) mode and signed a concession agreement with the authority Jawaharlal Nehru Port for two 4.5 mtpa liquid berths. As of March 31, its gross debt stood at Rs 4,381 crore.
JSW Infrastructure, part of the JSW Group, is India’s second largest private commercial port operator. The company was listed on the stock exchange in October 2023. It aims to increase its cargo handling capacity to 400 mtpa by fiscal 2030 or earlier, from the existing 170 mtpa.