Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

IndiGrid Q1 Revenue Jumps 78 % To Rs 361 Crore On Steady Performance

The consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) were Rs 329 crore, marking an increase of 74 per cent due to accretive acquisitions and steady operational performance.

Photo Credit :

1572086436_bbeX6K_power_4516342_960_720.jpg

India Grid Trust (IndiGrid) on Thursday reported a consolidated revenue of Rs 361 crore for the April to June quarter, up 78 per cent year-on-year.

The consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) were Rs 329 crore, marking an increase of 74 per cent due to accretive acquisitions and steady operational performance.

The board of investment manager for IndiGrid approved a distribution per unit (DPU) of Rs 3 for Q1 FY21 entirely payable as interest to unitholders.

Including this 13th distribution, IndiGrid has delivered Rs 36.56 per unit since listing, marking a total return of 42 per cent as of July 31.

The infrastructure investment trust said its management remains focused to maintain a strong balance sheet to successfully weather any near-term Covid-19 related uncertainty. The net debt/AUM stands at 50 per cent as of June 30, significantly below the 70 per cent cap as per SEBI InvIT regulations.

The robust balance sheet provides ample headroom to complete impending acquisitions worth Rs 6,500 crore as part of the framework agreement.

"A strong balance sheet and focus on accretive acquisitions allow us to underpin our goal of sustainably growing returns for our investors despite continued volatility of markets," said IndiGrid CEO Harsh Shah.

"We remain committed to our strategy of providing superior risk-adjusted returns to our investors by consistently growing our asset portfolio." 

(ANI)

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


ANI

ANI

More From The Author >>