IndiGrid announces distribution of Rs 2.89 per unit

India Grid Trust (IndiGrid), India’s only Infrastructure Investment Trust (InvIT) in the power sector, announced quarter results wherein its consolidated revenue stood at Rs 126.7 crore and the net distributable cash flow of Rs101.3 crore.

As per the results for the quarter ended December 31, 2017, Rs 2.89 will be distributed per unit, thereby beating the quarterly run-rate by 5%. Since the launch or for the seven months in FY18, this has resulted in total distribution per unit of Rs 6.56.

Pratik Agarwal, Chief Executive Officer, IndiGrid said, “IndiGrid delivered another strong quarterly performance and is on track to comfortably meet its FY2018 distribution guidance. In line with its growth strategy, IndiGrid is nearing completion of its previously announced acquisitions and is also pursuing other exciting opportunities.”

The InvIT also has plans to acquire Rs 1,500 crore worth assets from its sponsor company – Sterlite Power Grid Ventures Limited. These acquisitions would be carried out during Q4 FY2018.

The three assets being RAPP Transmission Company Limited, Purulia and Kharagpur Transmission Company Limited and Maheshwaram Transmission Limited.