Shares of JSW Infrastructure Ltd. fell over 6% on Friday after its first-quarter profit declined and missed analysts’ estimates.
Net profit of the company fell 7.8% year-on-year to Rs 297 crore in the quarter ended June 2024, according to an exchange filing. The consensus estimates of analysts polled by Bloomberg forecast net profit at Rs 327.2 crore.
Revenue from operations rose 15% to Rs 1,010 crore, but it was lower than consensus estimates of Rs 1,049.8 crore, according to Bloomberg. During the quarter, the company handled cargo volumes of 27.8 million tonne, which is 9% higher than last year.