JSW Infrastructure on Wednesday posted a 19 per cent decline in standalone profit to 84.86 crore in the March quarter due to lower income. It had reported ₹104.70-crore profit for the January-March period of the preceding 2023-24 fiscal year, the company said in an exchange filing.
The company’s total income dropped to ₹260.64 crore from ₹278.54 crore in the year-ago quarter, while expenses rose to ₹167.53 crore from ₹157.14 crore.
The board also approved the appointment of Padmini Kant Mishra as Executive Vice President — Terminals with immediate effect.
In a separate statement, the company handled cargo volumes of 31.2 million tonnes in the March quarter, 5 per cent higher over the last year.
The volume increase was mainly due to robust performance at the coal terminals in Mangaluru, Ennore, and Paradip, along with contributions from interim operations at the Tuticorin Terminal and the JNPA Liquid Terminal.
However, this growth was partially offset by reduced cargo volumes at the iron ore terminal in Paradip.
The increase in the third-party volume was stronger with 11 per cent year-on-year growth and the share of third party in the overall volumes stood at 50 per cent against 47 per cent a year ago.
Part of the JSW Group, JSW Infrastructure Ltd is the second-largest private port operator in India.