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.
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."
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.