IndiGrid reports growth of 21%

IndiGrid, India’s first power sector Infrastructure Investment Trust (InvIT), announced its results for the quarter ended 30 June 2019.

IndiGrid, India’s first power sector Infrastructure Investment Trust (InvIT), announced its results for the quarter ended 30 June 2019. IndiGrid reported a consolidated revenue of Rs 206.1 crore for the quarter, up 21 per cent quarter over quarter. The consolidated EBITDA for the quarter was Rs 1,894 million, up 26 per cent quarter over quarter.

The Board of Sterlite Investment Managers acting as the Investment Manager of IndiGrid approved distribution to unitholders of Rs 175 crore for first quarter of FY20. Distribution per unit stands at Rs 3. Rs 2.88 will be distributed as interest and remaining Rs 0.12 as capital repayment to unitholders. Due to the mid-quarter acquisition of two projects, NRSS XXIX Transmission Limited and Odisha Generation Phase II Transmission Limited is being made as capital repayment. IndiGrid is on track to achieve its stated DPU guidance of Rs 12 per unit for FY20.

IndiGrid’s AUM has increased from Rs 5220 crore to Rs 10,667 crore. IndiGrid now owns a portfolio of eight power transmission assets with a total network of 18 power transmission lines. Harsh Shah, Chief Executive Officer, IndiGrid, said, “With yet another strong operational and financial performance for the quarter, we are on track to meet the FY20 distribution guidance of Rs 12 per unit. IndiGrid’s growth plans have been reaffirmed by the closure of the Rs 2514 crore preferential issuance with participation from several global marquee investors including KKR and GIC.”

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