Increased capacity utilisation at Paradip and Mangalore coal terminals helped boost cargo volumes by 9% to 29.3 million tons in the January-March period, said JSW Infrastructure, which operates 10 ports and terminals along the Indian coastline.
That helped revenue from operations to climb about 20% to Rs 1,096 crore. Total expenses rose 15.5%, mainly due to higher operational costs.
Port operators, including JSW’s larger rival Adani Ports , have been benefitting as buoyant commercial activity and strong domestic consumption sustain cargo movement in and out of the country.
On Thursday, Adani Ports reported a 76% jump in fourth-quarter profit, backed by record cargo traffic at its ports and terminals.
JSW Infrastructure’s shares rose as much as 2.6% after results before reverting to trade flat as of 3:15 p.m. IST.
The stock has gained about 24% so far this year, while Adani Ports has risen about 29%, the most among the seven listed Adani group companies.
