IndiGrid Q1 EBITDA up 9.9% Q-on-Q and maintains FY19 DPU guidance
IndiGrid, Indias first power sector InvIT, announced its results for the quarter ended 30 June 2018 Consolidated revenue stood at INR 1,600 million
Mumbai (Maharashtra) : 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.
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.
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."