JSW Infrastructure Reports Decline in Profit Amid Rising Cargo Volumes

JSW Infrastructure experienced a 19% drop in profits for the March quarter, attributed to reduced income. Despite a decline in earnings, the company reported a 5% increase in cargo volumes due to strong coal terminal performance. The board appointed Padmini Kant Mishra as Executive Vice President.

JSW Infrastructure announced a 19 per cent decrease in standalone profit to Rs 84.86 crore for the March quarter, citing lower income as the primary reason. This marks a decline from the Rs 104.70-crore profit reported during the same period in the previous fiscal year, ending 2023-24.

While earnings declined, total income fell from Rs 278.54 crore to Rs 260.64 crore, with expenses increasing to Rs 167.53 crore from Rs 157.14 crore. The company's board approved the appointment of Padmini Kant Mishra as Executive Vice President of Terminals, effective immediately.

In its regulatory filing, JSW Infrastructure highlighted a positive note with a 5 per cent rise in cargo volumes, largely driven by robust performances at several coal terminals. However, reduced volumes at the Paradip iron ore terminal partially offset this growth.

(With inputs from agencies.)