JSW Infrastructure Q2 Results: Profit Rises 40%, Revenue Up 18%

JSW Infrastructure Ltd.'s second-quarter profit advanced 40%, topping analysts' estimates. Net profit rose to Rs 374 crore in the quarter ended Sept. 30, 2024, as compared to Rs 267 crore clocked in the year-ago period, according to an exchange filing on Monday. The consensus estimates of analysts polled by Bloomberg forecast net profit at Rs 299 crore.

Revenue from operations rose 18% year-on-year to Rs 1,001 crore. That compared with consensus estimates of Rs 989 crore, as per Bloomberg.

• Revenue up 18% at Rs 1,001 crore versus Rs 848 crore (Bloomberg estimate: Rs 989 crore).

• Ebitda rises 15% at Rs 521 crore versus Rs 452 crore (Bloomberg estimate: Rs 522 crore).

• Margin at 52.0% vs 53.3% (Bloomberg estimate: 52.80%).

• Net profit up 40% at Rs 374 crore versus Rs 267 crore (Bloomberg estimate: Rs 299 crore).

During the quarter, the company handled cargo volumes of 27.5 million metric tonnes, which is higher by 16% over the last year.

The volume increase was driven by the increased capacity utilisation at the coal terminals of Mangalore, Paradip and Ennore and the contribution from the acquisitions (PNP and Liquid Storage Terminal, UAE).

Notably, the increase in the third-party volume was even stronger with 48% year-on-year growth and the share of third-party in the overall volumes stood at 46% vs. 36% a year ago.

Other Key Updates in Q2FY25:

• The company emerged as the winning bidder for the development of a greenfield port at Murbe in Maharashtra.

• The Board of the respective subsidiary companies has approved a total capacity expansion plan of 36 MTPA (21 MTPA at Dharamtar and 15 MTPA at Jaigarh). The expansion will increase the overall capacity of Jaigarh Port to 70 MTPA from the current 55 MTPA, and Dharamtar Port to 55 MTPA from the current 34 MTPA.

Shares of JSW Infrastructure closed 2.1% higher in today, as compared to a 0.8% gain in Sensex.