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When the tide’s high, port operators like JSW Infrastructure sail smoothly. And that’s exactly what Q1 FY26 looked like — a decent set of numbers, even if not spectacular. The Adani Ports rival reported a healthy 31 per cent rise in year-on-year profit, riding on improved operating leverage and steady cargo volumes. But if you’re looking closer, the sequential dip in revenue and profit might make you pause. Q1 FY26 results snapshot Particulars Q1 FY26 Q1 FY25 YoY change Revenue Rs 1,223.8 crore Rs 1,009.7 crore 21.2 per cent EBITDA Rs 727.3 crore Rs 582.7 crore 24.8 per cent Net profit Rs 385 crore Rs 296.5 crore 29.9 per cent EBITDA margin 59.4 per cent 57.7 per cent 170 bps EPS Rs 3.2 (estimated) Rs 2.47 (estimated) 30 per cent Why the numbers matter Steady volumes, solid margins: JSW Infra continues to benefit from strong cargo throughput and tight







