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IndiGrid delivers another strong quarter in Q3FY19

Posted On: 2019-01-17 13:38:50

IndiGrid, India's first power sector Infrastructure Investment Trust ("InvIT"), announced its results for the quarter ended 31 December 2018. On the back of acquisitions, the company reported a consolidated revenue of INR 1,710 million for the quarter, up 35% YoY. The consolidated EBITDA for the quarter was INR 1,553 million, up 32% YoY.

The Board of Sterlite Investment Managers limited acting as the Investment Manager of IndiGrid approved DPU of INR 3.00 for Q3 FY19 payable as interest to unitholders. IndiGrid is on track to achieve its stated DPU guidance of INR 12.00 per unit for FY19.

Commenting on the quarterly results and developments, Mr. Harsh Shah, Chief Executive Officer, IndiGrid, said "IndiGrid delivered another strong quarterly performance and is on track to comfortably meet its FY19 distribution guidance. Since listing, we have distributed INR 18.56 per unit totaling to INR 5,255 million of distribution. IndiGrid is committed to provide AAA rated stable yield to investors through quarterly distributions and growing it by acquiring more projects."

Meanwhile Crisil, ICRA and India Rating have re-affirmed IndiGrid with the "AAA" rating with the Stable Outlook for the long-term borrowing facilities.

Shares of India Grid Trust was last trading in BSE at Rs.88.39 as compared to the previous close of Rs. 87.25. The total number of shares traded during the day was 25515 in over 5 trades.

The stock hit an intraday high of Rs. 88.75 and intraday low of 88.05. The net turnover during the day was Rs. 2254199.


Source: Equity Bulls

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