IndiGrid Delivers Another Strong Quarter

Stocks and Financial Services Press Releases Thursday July 26, 2018 10:48
MUMBAI, India--26 Jul--PRNewswire-FirstCall/InfoQuest
Key Highlights
  • Q1 EBITDA of INR 1,458 million, up by 10% QoQ on back of acquisitions
  • Q1 Distribution Per Unit (DPU) of INR 3.00 in line with FY19 DPU guidance
  • Regulatory approvals received for acquisition of its first third-party asset

IndiGrid, India's first power sector InvIT, announced its results for the quarter ended 30 June 2018. Consolidated revenue stood at INR 1,600 million. Consolidated EBITDA for the quarter was INR 1,458 million resulting in Net Distributable Cash flow (NDCF) of INR 851 million.

(Logo: http://mma.prnewswire.com/media/569718/IndiGrid_Logo.jpg )

The Board of Sterlite Investment Managers Limited acting as the Investment Manager of IndiGrid approved a DPU of INR 3.00 for Q1 FY19 payable as interest to unitholders. IndiGrid is on track to achieve its stated DPU guidance of INR 12.00 for FY19.

IndiGrid has received regulatory approvals required for completing the acquisition of Patran Transmission Company Limited from Techno Electric. This acquisition is expected to be consummated during this quarter.

Commenting on the quarterly results and developments, Mr. Pratik Agarwal, Chief Executive Officer, IndiGrid, said, "IndiGrid delivered another strong quarterly performance and is on track to meet FY19 distribution guidance. It will shortly complete its first third party acquisition and is pursuing other exciting growth opportunities to increase unitholder returns."

About IndiGrid:

IndiGrid (BSE: 540565) (NSE: INDIGRID) is the first Infrastructure Investment Trust ("InvIT") in the Indian power sector. IndiGrid owns 5 operating projects consisting of 15 independent revenue-generating elements comprising 3,360 ckms of transmission lines and 2 substations.

For more details, please visit http://www.indigrid.co.in
Media contact:
Balaji Krishnaswami
Phone: +91-9971757474
Email: balaji.krishnaswami@sterlite.com
Source: IndiGrid

Latest Press Release

Photo Release: EXIM Thailand Visits Xayaburi Hydroelectric Power Project

Mr. Nopporn Thepsithar (fifth left), Chairman of the Board of Executive Directors, Export-Import Bank of Thailand (EXIM Thailand) and Dr. Narongchai Akarasanee (center), former Minister of Energy, recently visited Xayaburi Hydroelectric Power Project...

Thailands Promotion of Advanced Technology and Eco-system Development Enables Local Producers to Fly Higher

Thailand has been experiencing a gradual shift from a manufacturing to a high-value manufacturing economy after the country has put all its efforts into promoting the use of advanced technology, science, and innovation in parallel with the development of...

Get 5-Baht Cashback when making payment via K PLUS for BTS tickets until April 30, 2019

To celebrate the latest QR Code payment service via K PLUS for one-way BTS tickets bought from ticket issuing machines at BTS Stations, KBank has teamed up with BTS to offer a cashback of 5 Baht/trip, which will be credited into the passenger's account...

OKEx Revisited Bangkok After Launch of Thai Baht Trading

OKEx, a Malta-based world-leading digital asset exchange, has made a stop-over to Bangkok to bring industry leaders together to exchange ideas on blockchain technology. In view of the fast-growing digital asset community in Thailand, OKEx has launched...

MFC launches new 6-month fund investing in global debt instruments, IPO 18 22 February 2019

Mr. Lim Chong Boon Dennis, President, MFC Asset Management Public Company Limited, announced today that MFC will be launching the MFC International Fixed Income Fund 6 Months Series 12 or I-FIX 6M12 during 18 – 22 February 2019. The Fund is a...

Related Topics