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JSW Infrastructure reported an 8.2% year-on-year decline in its consolidated net profit for the first quarter of FY27 as higher operating expenses weighed on earnings. Despite the drop in profit, the company recorded growth in total income, cargo volumes and operating EBITDA, supported by strong performances across key ports and expansion of cargo handling capacity. The company also strengthened its container terminal portfolio with new projects and maintained its growth guidance for FY27, backed by ongoing capacity additions and infrastructure expansion.
JSW Infrastructure Ltd reported an 8.20% year-on-year decline in its consolidated net profit during the first quarter of FY27, as higher operating expenses impacted earnings despite growth in revenue and cargo volumes. The company's consolidated net profit stood at INR 357.60 crore during the April-June quarter, compared with INR 389.57 crore in the corresponding period of the previous financial year, according to a regulatory filing.
At the same time, the company's total income increased to INR 1,501.63 crore from INR 1,313.70 crore in the year-ago period. However, total expenses also rose significantly to INR 1,038.84 crore, compared with INR 841.14 crore a year earlier, leading to pressure on profitability.
During the quarter, JSW Infrastructure handled 31 million tonnes of cargo, marking a 6% increase over the same period last year. The company attributed the growth mainly to strong performance at Jaigarh Port, driven by higher cargo volumes from anchor customers and rising third-party cargo throughput across newer cargo segments.
Operations at Dharamtar Port, South West Port, and Ennore Bulk Terminal also supported cargo growth during the quarter. In addition, interim operations at the Tuticorin Terminal contributed to the overall increase in volumes.
However, cargo handling at the Fujairah Liquid Terminal remained under pressure due to the challenging operating environment in the Middle East, which partially offset the gains recorded across its Indian port network. The company also reported a 16% increase in operating EBITDA, which rose to INR 674 crore during the quarter, reflecting improved operational performance despite higher costs.
JSW Infrastructure said its net cash position stood at INR 2,769 crore at the end of the quarter, while gross debt was INR 7,094 crore.
As part of its expansion strategy, the company increased cargo handling capacity at South West Port, Goa, from 11 million tonnes per annum (MTPA) to 12 MTPA. It also expanded the Mangalore Container Terminal capacity from 4.2 MTPA to 6 MTPA.
The company further strengthened its container terminal business by commencing interim operations at the Kolkata Container Terminal. It also secured another public-private partnership (PPP) project at Syama Prasad Mookerjee Port, with a capacity of 0.93 million TEUs, taking its total container handling capacity in Kolkata to 1.4 million TEUs.
These developments build on JSW Infrastructure's broader expansion strategy over the past few years. The company has been increasing its presence across ports, logistics and container terminals through capacity additions, acquisitions and long-term concession agreements to diversify cargo handling and strengthen its position in India's port infrastructure sector.
Looking ahead, the company said it is targeting consolidated operating revenue of INR 6,850 crore and operating EBITDA of INR 3,000 crore for FY27. It also expects EBITDA to grow by around 15% over the FY26 base during FY27 and nearly double by FY28.
Source PTI
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