JSW Infrastructure Reports Impressive Growth in FY2024 Results

JSW Infrastructure Limited, part of the JSW Group and India’s second-largest private commercial port operator, has released its financial results for the fourth quarter and full year ending 31 March 2024. The company recorded a remarkable 55% year-on-year increase in profit after tax (PAT), reaching ₹1,161 Crore for FY2024, driven by solid revenue growth and improved operating margins.

In the fourth quarter of FY2024, JSW Infrastructure handled cargo volumes of 29.3 million tonnes, a 9% increase over the same period last year. This growth was fueled by increased capacity utilisation at key terminals, including Paradip Coal Terminal and Mangalore Coal Terminal, as well as contributions from newly acquired assets like PNP and the Liquid Terminal in the UAE. Third-party cargo volumes also grew by a significant 35% year-on-year, with third-party cargo now accounting for 46% of total volumes, up from 37% in the previous year.

This increased cargo handling translated into a 23% growth in total revenue for the quarter, reaching ₹1,200 Crore. With this revenue boost, the company’s EBITDA also grew by 29% year-on-year to ₹685 Crore, maintaining a strong margin of 57%. Profit before tax (PBT) and profit after tax (PAT) reached ₹417 Crore and ₹329 Crore, representing year-on-year growth rates of 41% and 9%, respectively.

For the full year, JSW Infrastructure handled a total of 106 million tonnes of cargo, reflecting a 15% increase over FY2023. This growth was driven by increased capacity utilisation at Iron Ore and Coal terminals in Paradip and Mangalore, along with a notable 18% growth in cargo volumes at the Mangalore Container Terminal. Third-party cargo volumes grew by 36% year-on-year, contributing 40% to total volumes compared to 33% in the previous year.

With the increased cargo volumes, the company’s total revenue for FY2024 grew by 20% to ₹4,032 Crore. EBITDA for the year reached ₹2,234 Crore, a 24% increase year-on-year, with a robust margin of 55.4%. As a result of improved operating leverage and effective cost control, PBT grew by 81% to ₹1,465 Crore, while PAT increased by 55% year-on-year to ₹1,161 Crore.

The strong results for FY2024 highlight JSW Infrastructure’s successful strategy and operational efficiency. With increased capacity utilisation, growing third-party cargo volumes, and successful acquisitions, the company is well-positioned for continued growth. As India’s second-largest private commercial port operator, JSW Infrastructure remains committed to expanding its infrastructure and operational capabilities to meet the demands of a growing economy and evolving trade patterns.