JSW Infra's profit more than doubles to ₹251 cr in Oct-Dec

Private-sector port operator JSW Infrastructure Ltd on Friday said its consolidated net profit more than doubled year-on-year (y-o-y) to 250.66 crore in the December quarter, buoyed by increased cargo volumes and higher tariffs.

- Naman Suri

The JSW Group company had reported 114.89 crore in net profit a year ago.

Its revenue from operations in the third quarter of 2023-24 stood at 1940.11 crore, rising 17.85% y-o-y. The new container segment accounted for around 2% of the total volumes during the quarter, it said in a statement.

"The higher volume translated to growth in the total revenue. Increased revenue, the benefit of operating leverage and cost control meant a robust Ebitda margin, resulting in a solid growth of PAT (profit after tax) y-o-y... Our current utilization rate is approximately 65%, up from 63% previously, reflecting a continuous upward trend. In the port industry, reaching 70-75% capacity triggers the need to invest in additional capacities, especially considering our mix of terminals and ports," said Arun Maheshwari, joint managing director and chief executive, JSW Infrastructure.