JSW Infra shares rally 3% on signing ₹740 crore agreement with SMPK; check details

The agreement provides for reconstruction of berth 8 and installation of rail-mounted quay cranes (RMQC) at berths 7 and 8 at Netaji Subhas Dock under the Kolkata Dock System, to enable faster container cargo handling, supported by a 25-acre backup area, a statement said.

The concession has been awarded for 30 years, with the terminal projected to handle 5 lakh TEUs annually, it said.

SMPK Chairman Rathendra Raman said the project reflects the port’s commitment to strengthening infrastructure and trade facilitation in line with the Centre’s vision of world-class ports.

The signing ceremony was attended by Raman, Deputy Chairman Samrat Rahi, senior officials of the Kolkata Dock System and representatives from JSW Infra Ltd, including Director Devki Nandan.

At 10:55 AM, shares of JSW Infrastructure were trading at ₹320 apiece on the National Stock Exchange, rising 1.62%.

In the last month, shares of the company have gained 3.3%, while for six months’ time, they have zoomed over 21%. However, year-to-date, it has lost 1.5%.

JSW Infrastructure had reported a 31.5% year-on-year (YoY) increase in its net profit for the first quarter of the current fiscal year (Q1 FY25) to ₹385 crore as against ₹292 crore posted in the year-ago period. The strong earnings were on the back of higher cargo volumes and robust performance of its subsidiary Navkar Corporation.

However, the net profit declined on a quarter-on-quarter (QoQ) basis from ₹509 crore in Q4 FY25.

The company's revenue from operations for the reporting quarter stood at ₹1,224 crore, up 21.2% YoY from ₹1,010 crore reported in Q1 FY24. Revenue stood at ₹1,283 crore in the March quarter.

Its operational earnings before interest, taxes, depreciation and amortisation (EBITDA) were at ₹581 crore during the July quarter, up 13% YoY, while its overall EBITDA was at ₹671 crore.