Total income increased 28.57% year on year to Rs 895.48 crore in Q2 FY24.

Profit before tax stood at Rs 328.19 crore in Q2 FY24, up 96.46% as compared with Rs 167.04 crore posted in corresponding quarter last year.

EBITDA jumped 33.06% to Rs 499 crore during the quarter as against Rs 375 crore reported in Q2 FY23. EBITDA margin improved to 55.8% in Q2 FY24 as against 53.9% recorded in the corresponding quarter previous year.

During the quarter, the company handled cargo volumes of 23.7 million tonnes which is higher by 27% over the last year. The increase in the volume is 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. Also, the Mangalore Container terminal handled close to 54,404 TEU, which is 7% higher YoY.

Operating cash flow stood at 367 crore in Q2 FY24, steeply higher than Rs 152 crore posted in Q2 FY23. Cash and cash equivalents stood at Rs 5,333 crore in Q2 FY24.

Arun Maheshwari, JMD & CEO, JSW Infrastructure said, “I am confident that JSW Infrastructure is in a unique position to take advantage of India's growth opportunities. Our strong financial results for the quarter and half year ending on 30 September 2023, continue to be a testament to our strategic assets and operational excellence. The acquisition of the commercial liquid storage facility at Fujairah Port, UAE is a step towards our overarching vision of growth going forward.”

Meanwhile, the company’s board has approved the acquisition of Marine Oil Terminal Corp (Marine Oil Terminal) alongwith its Fujairah branch by JSW Terminal (Middle East) FZE, a wholly owned subsidiary of the Company; from MPT Commodities, British Virgin Islands (Mercuria Group).

On completion of the transaction, Marine Oil Terminal will become the step-down subsidiary of the company.

Further, directors of the company approved the purchase of container train operator licence/concession (CTO licence) from Sical Multimodal and Rail Transport.

This will help to expand its footprint in logistic business and participate in Container Train Operations Business.

JSW Infrastructure is part of the JSW Group. JSW Infrastructure is the second largest commercial port operator in India in terms of cargo handling capacity in Fiscal 2023 operating environment-friendly seaports & terminals. It operates nine state port concessions strategically located on the west and east coasts of India. Its largely mechanized cargo handling system enable quick turnaround times while ensuring efficient use of existing resources.