The company handled cargo volumes of 23.7 million tonnes during the quarter, which was 27% higher than last year. The increase in the volume was primarily on the back of increased capacity utilisation at the Paradip Coal terminal as well as Paradip Iron Ore terminal, and increased offtake at the Dharamtar and Jaigarh ports, the company said.
Also, the Mangalore Container terminal handled close to 54,404 TEU, which was 7% higher YoY. Notably, the increase in the third-party volume was even stronger at 31% and the share of third-party in the overall volume stood at 36%, compared to 35% a year ago.
The higher volume translated to double-digit growth in revenue. Increased revenue and efficient operating cost structure drove the operating performance during the quarter.
“…JSW Infrastructure is in a unique position to take advantage of India’s growth opportunities…The acquisition of the commercial liquid storage facility at Fujairah Port, UAE is a step towards our overarching vision of growth going forward,” said Arun Maheshwari, joint MD & CEO, JSW Infrastructure.
The balance sheet remained strong with net debt-free, thereby positioning JSW Infrastructure to pursue growth opportunities. Cash and cash equivalents as of September 30 stood at Rs 5,333 crore, and gross debt was Rs 4,261 crore.
For the six months ended September, the consolidated revenue grew by 16% on year to Rs 1,814 crore, and profit rose 75% to Rs 578 crore.
On Friday, shares of JSW Infrastructure, which made its debut in October, ended 0.2% down on the National Stock Exchange at Rs 171.45.
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