JSW Infrastructure jumps 6% as Q2 profit soars 85%
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JSW Infrastructure had posted a consolidated profit of Rs 138.29 crore in the year-ago period.
The JSW Infrastructure stock jumped more than 6 percent in the early trade on November 6 after the company reported an impressive 85 percent spike in the September quarter.
The commercial ports operator reported a consolidated profit of Rs 255.87 crore in its first quarterly earnings report after listing on bourses. The company had posted a consolidated profit of Rs 138.29 crore in the year-ago period, JSW Infrastructure said on November 3.
During the July-September period, its income grew to Rs 895.48 crore over Rs 696.51 crore in the previous fiscal year.
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The company has received approval from board for acquisition of Marine Oil Terminal Corp along with its Fujairah branch by subsidiary JSW Terminal (Middle East) FZE, from MPT Commodities, British Virgin Islands (Mercuria Group), the firm said in its filing.
At 9.51 am, the stock was trading at Rs 178.95 on the National Stock Exchange, 4.37 percent higher from the previous close.
JSW Infrastructure listed on the bourses on October 3 at Rs 143, a premium of 20 percent over the issue price of Rs 119.
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