JSW Infrastructure Shares in Focus After Drone Debris Damages Tank at Fujairah Terminal
Drone Debris Hits One Storage Tank at Fujairah Liquid Terminal
Shares of JSW Infrastructure Ltd. came under focus on Wednesday, March 4, after the company confirmed that one of its 15 storage tanks at the Fujairah Liquid Terminal in the UAE was damaged by drone debris.The company stated that the remaining 14 tanks have been secured. It also confirmed that adequate insurance coverage for the facility was already in place.
Emergency Response Activated, No Injuries Reported
Upon detecting the debris impact, emergency response procedures were immediately activated in accordance with established safety protocols. Local authorities and onsite safety teams responded swiftly, and the situation was fully contained.The company clarified that no injuries were reported following the incident.
A technical assessment is currently underway to evaluate the structural impact of the damage and determine the restoration plan.
Fujairah Terminal Capacity and Cargo Handling Details
JSW Infrastructure operates a liquid storage terminal with a capacity of 4.65 lakh cubic metres at Fujairah in the UAE.During the third quarter, the Fujairah Terminal handled 0.84 million metric tonnes out of the company’s total cargo volume of 31.73 million metric tonnes.
Q3 Financial Performance: Net Profit and Revenue Rise
In its third quarter results, JSW Infrastructure reported a 9.1 percent rise in net profit, which increased to ₹359 crore from ₹329 crore in the corresponding period of the previous year.Revenue for the quarter grew 14.2 percent to ₹1,349 crore, compared with ₹1,181 crore a year earlier.
Earnings before interest, tax, depreciation and amortisation rose 10.1 percent to ₹643 crore from ₹584 crore in the previous year. However, the company’s EBITDA margin declined to 47.6 percent from 49.5 percent year on year.
Share Price Performance
Shares of JSW Infrastructure closed the previous session 0.8 percent lower at ₹252.85 apiece. The stock has declined 16.6 percent over the past six months.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
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