Mumbai, July 21 (SocialNews.XYZ) JSW Infrastructure, the country's second-largest private port operator, on Tuesday reported a decline in net profit for the April-June quarter (Q1 FY27), even as higher cargo volumes and continued strength in its logistics business drove double-digit revenue growth.
The JSW Group company posted a consolidated net profit attributable to the owners of the company of Rs 346.63 crore during the quarter, down 9.89 per cent from Rs 384.68 crore in the corresponding period of the previous financial year, according to its stock exchange filing.
According to the company, the decline in profit was mainly due to lower profit before tax (PBT) and a higher effective tax rate during the quarter. PBT fell to Rs 462 crore, largely because surplus funds were deployed towards ongoing growth capital expenditure, resulting in lower other income.
Despite the decline in profitability, the company reported a strong top-line performance. Revenue from operations increased 18.15 per cent year-on-year to Rs 1,444.83 crore in Q1 FY27 from Rs 1,223.85 crore in the year-ago period. The growth was driven by higher port cargo volumes, sustained momentum in the logistics segment and a favourable product mix.
Operating performance also remained healthy, with EBITDA rising 8.9 per cent year-on-year to Rs 731 crore from Rs 671 crore in the corresponding quarter last year. However, the EBITDA margin narrowed to 48.7 per cent from 51.1 per cent, reflecting increased operating costs and changes in the business mix.
During the quarter, JSW Infrastructure handled 31 million tonnes of cargo, registering a 6 per cent increase over the same period last year. The growth was primarily supported by strong performance at Jaigarh Port, where higher volumes from anchor customers and increased third-party cargo from newer cargo segments boosted throughput.
The company also benefited from robust operations at Dharamtar Port, South West Port and Ennore Bulk Terminal, along with contributions from interim operations at the Tuticorin Terminal. However, overall cargo growth was partially offset by lower volumes at the Fujairah Liquid Terminal due to a challenging operating environment in the Middle East.
Looking ahead, JSW Infrastructure said it aims to expand its cargo handling capacity to 400 million tonnes per annum (MTPA) by FY30 or earlier, nearly doubling its current capacity of 186 MTPA.
Source: IANS
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