The June quarter earnings season has concluded for major Indian ports and logistics companies, with Adani Ports, JSW Infrastructure, and Concor remaining in focus after their quarterly results. According to reports from The Financial Express, JM Financial's pre-results expectations have largely been met by the sector's performance, providing insights into the current market dynamics and growth trajectories of these key port operators.
Adani Ports broadly delivered on JM Financial's projections, reporting double-digit growth in revenue and profit after tax while remaining on course to achieve its FY27 EBITDA guidance. As reported by The Financial Express, revenue from operations rose 18.6% year on year to ₹10,820.8 crore, while profit after tax increased 10.2% to ₹3,649.5 crore. The company's operating profitability also improved significantly, with EBITDA margin expanding by 4.38 percentage points sequentially. JM Financial had expected nearly 15% growth in EBITDA, supported by similar growth in cargo volumes, with the company potentially meeting or exceeding the upper end of its FY27 EBITDA guidance of ₹25,000-26,000 crore.
JSW Infrastructure met revenue expectations with revenue from operations of ₹1,444.8 crore, up 18.1% year on year, broadly matching JM Financial's estimate. However, according to reports from The Financial Express, net profit fell 9.9% to ₹346.6 crore, missing the growth projections. EBITDA increased 8.9% to ₹730.6 crore, while JM Financial had estimated 18% revenue growth and 12% EBITDA growth. The brokerage maintains that the company could achieve management's FY27 EBITDA target of ₹3,000 crore, with coastal coal and captive cargo volumes along with the rail rake business expected to be primary drivers going forward.
Concor's quarterly earnings disappointed despite positive pre-results expectations, with consolidated revenue remaining largely unchanged at ₹2,159.8 crore and consolidated net profit almost flat at ₹266.7 crore compared with the year-ago quarter. As reported by The Financial Express, JM Financial had entered the earnings season with a positive view after export-import handling volumes increased 9.8%, ahead of management's full-year guidance. The company's board declared an interim dividend of ₹1.60 per share despite the softer earnings performance.
GMR Airports has not yet announced its June-quarter financial results but released operating updates showing record quarterly passenger traffic of 30.22 million passengers, the highest-ever quarterly passenger traffic. According to reports from The Financial Express, Delhi Airport handled 20.4 million passengers during the quarter with cargo volumes increasing 12.3% year on year to about 3.1 lakh metric tonnes. However, weaker traffic at Hyderabad, Mopa, Medan and Cebu meant total passenger traffic excluding Cebu declined 0.3% in June. JM Financial had expected stronger aeronautical revenue per passenger at Delhi Airport to support revenue and EBITDA growth.
