Mumbai, October 17, 2025 – JSW Infrastructure Limited, promoted by Sajjan Jindal, reported a 2.8% year-on-year (YoY) decline in consolidated net profit to Rs 361.24 crore for the quarter ended September 30, 2025. The figure, however, surpassed Bloomberg’s analyst estimate of Rs 357.5 crore, signaling a steady operational performance despite margin pressure.
Revenue growth and operational performance
Revenue from operations jumped 26.4% YoY to Rs 1,265.6 crore, exceeding analyst projections of Rs 1,238.9 crore. The rise was supported by higher cargo volumes, a better cargo mix, and the consolidation of Navkar Corporation, which contributed significantly during the quarter.
Cargo volumes handled rose 3% YoY to 28.9 million tonnes, driven by robust throughput at South West Port, Jaigarh, and Dharamtar. Interim operations at Tuticorin and the JNPA liquid terminal also boosted the numbers. However, weak seaborne iron ore exports led to a 2.1-million-tonne shortfall at the Paradip terminal, capping volume growth below 10%.
Costs, margins, and forex impact
Depreciation climbed to Rs 149 crore (up from Rs 134 crore YoY) due to project capitalization at South West Port and Navkar’s consolidation. Finance costs rose to Rs 99 crore from Rs 75 crore, reflecting higher net debt levels.
According to CFO J. Nagarajan, the company recorded an unrealised foreign exchange loss of Rs 5 crore in Q2 FY26, compared to a gain of Rs 155 crore in the same period last year. This accounting adjustment under Ind AS 109, along with higher finance costs, impacted overall profitability.
Stock performance
Shares of JSW Infrastructure were trading 1.76% lower at Rs 303.60 on Friday’s session on the Bombay Stock Exchange (BSE: 543994).
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