JSW Infrastructure added 2.19% to Rs 343.45 after the company has taken delivery of a new, dredger from Netherlands based IHC Dredging to support its expansion plans.
This investment into the second Dredger aligns with the companys FY2030 growth plan to boost capacity from 170 million tonnes per annum (MTPA) to 400 MTPA. The new dredger will support both greenfield and brownfield expansion projects at multiple ports of the company.
JSW Infrastructure a part of JSW Group, is the second largest commercial port operator in India in terms of cargo handling capacity. It develops and operates ports and port terminals pursuant to port concessions.
On consolidated basis, the port operator has reported 8.87% fall in net profit to Rs 292.44 crore in Q1 FY25 as against Rs 320.89 crore recorded in Q1 FY24. Revenue from operations grew by 14.99% year on year (YoY) to Rs 1,009.77 crore in the quarter ended 30 June 2024.