IndiGrid, India's first power sector Infrastructure Investment Trust ("InvIT"), announced its results for the quarter ended 31 March 2019. On the back of acquisitions and stable operational performance, IndiGrid reported a consolidated revenue of INR 1,705 million for the quarter, up 15% YoY. The consolidated EBITDA for the quarter was INR 1,508 million, up 15% YoY.
The Board of Sterlite Investment Managers Limited acting as the Investment Manager of IndiGrid approved DPU of INR 3.00 for Q4 FY19 payable as interest to unitholders. With this, IndiGrid has delivered its DPU guidance of INR 12.00 per unit for FY19.
Meanwhile Crisil, ICRA and India Rating have re-affirmed IndiGrid with the "AAA" rating with the Stable Outlook for the long-term borrowing facilities.
- 5th consecutive distribution of INR 3.00 per unit; INR 12.00 per unit for FY 19
- INR 6,107 million (INR 21.56/unit) distributed to investors in 8 quarters since listing
- Q4 EBITDA of INR 1,508 million, up by 15% YoY on back of acquisitions and consistent operational performance
- Guidance set to INR 12.00 per unit for FY 20
Commenting on the second-year financial results and developments, Mr. Harsh Shah, Chief Executive Officer, IndiGrid, said "With yet another strong yearly performance, IndiGrid has achieved its distribution guidance of INR 12.00 per unit. Since listing, we have distributed INR 21.56 per unit totaling to INR 6,107 million of distribution. IndiGrid is committed to provide AAA rated stable yield to investors through quarterly distributions and growing it by acquiring more projects."