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IRB InvIT Fund to distribute Rs. 2.50 per unit for Q3 FY21

Posted On: 2021-01-16 00:40:02 (Time Zone: Arizona, USA)


- 9 months' cumulative distribution is at Rs. 6.00 p/u amounting to Rs 348 Crs

- Toll collection is above pre-COVID 19 levels

- Electronic Toll Collection is in the range of 75% to 80%; likely to go up further, post FASTags will be made mandatory from February 2021

IRB InvIT Fund (the Trust), India's first listed Infrastructure Investment Trust will distribute Rs. 2.50 per unit for Q3 FY21. The Trust, today, announced it in a Board Meeting of an Investment Manager, IRB Infrastructure Pvt. Ltd. held in Mumbai for the Financial Results for the 3rd quarter of FY21.

With this, the cumulative distribution for 9 months in FY21 is now Rs. 6.00 per unit, which includes Rs. 4.80 per unit as an interest component and Rs. 1.20 as return on capital. The cumulative distribution of Cash Flow for 9 months of FY21 is Rs. 348 Crores, which includes the Cash Flow distribution of Rs. 145 Crores for Q3.

While commenting on the occasion, the Spokesperson, IRB Infrastructure Pvt. Ltd. said, "It is encouraging to see the traffic rebound across all our projects resulting in toll collections increasing beyond pre-COVID 19 levels. In ensuing months, we expect it to improve further corresponding to the recovery in economy. Additionally, increasing FASTag penetration across the projects helps in managing higher traffic in more efficient and transparent manner."

The Trust has set 21st January 2021 as a record date for distribution and the Distribution will be paid / dispatched to the unit holders on or before 30th January 2021.

The units of IRB InvIT Fund was last trading in BSE at Rs. 47.98 as compared to the previous close of Rs. 47.74. The total number of units traded during the day was 1,07,500 and the deliverable quantity was 95,000.

The units hit an intraday high of Rs. 48 and intraday low of Rs. 46.50.


Source: Equity Bulls

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