JSW Infrastructure Q3 Results: Profit Rises 32%, In Line With Estimates

JSW Infrastructure Ltd.'s consolidated net profit rose 32% in the third quarter of the current financial year, meeting street expectations.

The private commercial port operator posted a consolidated bottom line of Rs 330 crore in the quarter-ended December, according to an exchange filing on Tuesday. That compares with the Rs 334-crore consensus estimate of analysts tracked by Bloomberg.

The company's revenue climbed 26% year-on-year to Rs 1,182 crore, whereas the earnings before interest, taxes, depreciation and amortisation increased by 22% to Rs 586 crore. The Ebitda margin contracted to 49.6% from 51%.

• Revenue up 26% to Rs 1,182 crore versus Rs 940 crore. (Bloomberg estimate: Rs 1,119 crore).

• Ebitda up 22% to Rs 586 crore versus Rs 480 crore. (Estimate: Rs 565 crore).

• Ebitda margin at 49.6% versus 51%. (Estimate: 50.5%).

• Net profit up 32% to Rs 330 crore versus Rs 251 crore. (Estimate: Rs 334 crore).

During the quarter, the company handled cargo volumes of 29.4 million tonne which is higher by 5% over the last year, as per a press release. The volume increase was driven by the increased capacity utilisation in the coal terminal at Paradip, contribution from the PNP Port and liquid storage terminal in the UAE, it added.

"The increase in the third-party volume was stronger with 31% year-on-year growth and the share of third party in the overall volumes stood at 49% versus 39% a year ago," JSW Infrastructure said.

JSW Infrastructure said it has embarked on a growth plan to increase its cargo handling capacity to 400 million tonnes per annum by fiscal 2030 or earlier, up from the current capacity of 174 mtpa. To achieve this, it has outlined a comprehensive capital expenditure plan of Rs 30,000 crore.

The total capex guidance has been raised to Rs 39,000 crore, with an additional Rs 9,000 crore allocated for expanding its logistics segment. The company aims for a top line of Rs 8,000 crore in its logistics segment, as it targets a 25% Ebitda margin.

Shares of the company ended 0.52% lower at Rs 259.4 apiece on the National Stock Exchange, as compared to a 0.56% advance in the benchmark NSE Nifty 50. The quarterly results were declared shortly before the market's close.

Track live updates on Q3 earnings here.