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India's JSW Infra reports highest-ever quarterly profit on strong cargo development

Indian JSW Facilities on Monday reported its highest-ever quarterly revenue considering that going public in October 2023, enhanced by higher cargo volumes.

The company, India's second-biggest personal port operator, reported consolidated net profit of 3.72 billion rupees ($ 44.3. million) in 2nd quarter ended Sept. 30, up by 46% on-year.

The business handled 27.5 million metric tonnes of freight, 16%. greater over the last year, stated JSW Infrastructure, which. operates ten ports and terminals along the Indian coastline.

Higher freight volumes was driven by increased capacity. utilisation at its coal terminals, the business stated in an. revenues release, leading to greater third-party volumes growth. of 48% year-on-year.

Revenue from operations increased by 18% to 10.01 billion. rupees.

Overall expenses, meanwhile, fell nearly 6% to 5.34 billion. rupees, helping boost its margins to 55.8% from 54% a year ago.

Additionally, the company said it plans to improve its. general cargo managing capability to 400 million tonnes per annum. ( MTPA) by 2030 from 170 MTPA currently.

JSW Infra's bigger competitor, Adani Ports and Special. Economic Zone, is due to report second-quarter. incomes on Tuesday.

(source: Reuters)