JSW Infrastructure Q2 net profit dips 3% to ₹361 crore as EBITDA margin contracts to 41%

JSW Infrastructure Ltd on Thursday (October 16) reported a 2.8% year-on-year (YoY) decline in net profit at ₹361.2 crore for the second quarter that ended September 30, 2025.

In the corresponding quarter of the previous fiscal, JSW Infrastructure posted a net profit of ₹371.5 crore. The company's revenue from operations surged 26.4% to ₹1,265.6 crore as against ₹1,001.4 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA fell 24% to ₹513.6 crore in the second quarter of this fiscal over ₹676 crore in the corresponding period in the previous fiscal. EBITDA margin stood at 40.6% in the reporting quarter as compared to 67.5% in the corresponding period in the previous fiscal.

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JSW Infrastructure reported handling 28.9 million tonnes of cargo in the second quarter of FY2026, up 3% year-on-year, driven by strong performance at its South West Port, Jaigarh Port, and Dharamtar Port. Interim operations at the Tuticorin terminal and JNPA liquid terminal also contributed positively. However, growth was partially offset by a 2.1 million tonne shortfall at the Paradip Iron Ore terminal, due to weak seaborne iron ore exports; excluding this impact, overall cargo growth would have been close to 10%.

Group cargo volumes increased 6% year-on-year to 15.7 million tonnes from 14.8 million tonnes, accounting for 54% of total volumes, up from 52% a year earlier. The port segment’s operational revenue rose 10% to ₹1,103 crore from ₹1,001 crore in the same quarter last year, while operational EBITDA climbed 12% to ₹585 crore from ₹521 crore, with margins improving to 53% from 52%, led by robust performance at Jaigarh, Dharamtar, and South West Port.

Including the performance of Navkar Corporation, EXIM cargo volumes reached 79,000 TEUs, a 20% increase year-on-year, while domestic cargo volumes rose 46% to 394,000 metric tonnes. This combined performance drove a 26% year-on-year rise in operational revenue to ₹1,266 crore, with operational EBITDA up 17% to ₹610 crore, resulting in a profit after tax of ₹369 crore for the quarter.

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The company has earmarked ₹9,000 crore for expanding its logistics segment. This expansion aims to build on the Navkar acquisition to develop a robust pan-India logistics network. With a strong balance sheet, the Company is well-positioned to pursue both organic and inorganic growth without compromising its leverage ratios.

The results came after the close of the market hours. Shares of JSW Infrastructure Ltd ended at ₹309.05, down by ₹0.30 or 0.097% on the BSE.