JSW Infra Q2 results: Net profit jumps 46% to Rs 371 cr, beats estimates

JSW Infrastructure (JSW Infra)'s consolidated net profit (attributable to the owners of the company) for the second quarter of the financial year 2025 (Q2 FY25) jumped 46.03 per cent year-on-year (Y-o-Y) to Rs 371.51 crore due to an increase in cargo volumes handled by the port entity.

 

The profit beat the Bloomberg poll estimate of Rs 299.23 crore.

 

During the quarter, the company handled cargo volumes of 27.5 million tonnes, up 16 per cent Y-o-Y. According to the company’s statement, the volume increase was driven by increased capacity utilisation at the coal terminals of Mangalore, Paradip, and Ennore, and contributions from acquisitions (PNP and Liquid Storage Terminal, UAE).

 

 

The company’s revenue from operations stood at Rs 1,001.36 crore, up 18.04 per cent Y-o-Y, while total expenses declined by 5.9 per cent Y-o-Y to Rs 534.25 crore.

 

Further, the company’s earnings before interest, taxes, depreciation, and amortisation (Ebitda) for the quarter stood at Rs 607 crore, up 22 per cent Y-o-Y, with the Ebitda margin at 55.8 per cent.

 

Sequentially, the company’s net profit increased by 27.04 per cent, though revenue declined marginally by 0.83 per cent.

 

Additionally, during the quarter, the company emerged as the winning bidder for the development of a greenfield port at Murbe in Maharashtra. The cost of the project is estimated to be around Rs 4,259 crore.

 

In September 2024, the company’s board approved a total capacity expansion plan of 36 million tonnes per annum (MTPA) (21 MTPA at Dharamtar and 15 MTPA at Jaigarh) with a total capital expenditure of Rs 2,359 crore. The company’s current cargo handling capacity stands at 170 MTPA, which it aims to expand to 400 MTPA by FY30.

 

During the quarter, the company completed the previously announced acquisition of a 70.37 per cent shareholding held by promoters and promoter groups in Navkar Corporation Limited through its wholly owned subsidiary, JSW Port Logistics Private Limited, for an enterprise value (EV) of Rs 1,644 crore.

 

Regarding the acquisition, Arun Maheshwari, joint managing director and chief executive officer of JSW Infra, stated that the company is further exploring opportunities in the logistics sector across the country.