• Q3 EBITDA of INR 1553 million, up by 32% YoY on back of acquisitions
• Q3 Distribution Per Unit (DPU) of INR 3 in line with FY19 DPU guidance
• Crisil, ICRA and India Rating re-affirm AAA rating
Mumbai, Wednesday, 16 January 2019: IndiGrid, India’s first power sector Infrastructure Investment Trust (“InvIT”), announced its results for the quarter ended 31 December 2018. On the back of acquisitions, the company reported a consolidated revenue of INR 1,710 million for the quarter, up 35% YoY. The consolidated EBITDA for the quarter was INR 1,553 million, up 32% YoY.
The Board of Sterlite Investment Managers Limited acting as the Investment Manager of IndiGrid approved DPU of INR 3.00 for Q3 FY19 payable as interest to unitholders. IndiGrid is on track to achieve its stated DPU guidance of INR 12.00 per unit for FY19.
Commenting on the quarterly results and developments, Mr. Harsh Shah, Chief Executive Officer, IndiGrid, said “IndiGrid delivered another strong quarterly performance and is on track to comfortably meet its FY19 distribution guidance. Since listing, we have distributed INR 18.56 per unit totalling to INR 5,255 million of distribution. IndiGrid is committed to provide AAA rated stable yield to investors through quarterly distributions and growing it by acquiring more projects.”
Meanwhile Crisil, ICRA and India Rating have re-affirmed IndiGrid with the “AAA” rating with the Stable Outlook for the long-term borrowing facilities.
Highlights of Q3 and Nine months of FY19 (in INR millions):
Period Q3 FY19 Q2 FY19 Q3FY18 9M FY19 9M FY18
Revenue 1,710 1,653 1,267 4,963 3,066
EBIDTA 1,553 1,517 1,173 4,528 2,835
Distribution 851.4 851.4 820.2 2,554 1,849
IndiGrid [BSE: 540565 | NSE: INDIGRID] is the first Infrastructure Investment Trust (“InvIT”) established to own power transmission assets in India. IndiGrid owns 16 independent revenue-generating elements, including 13 transmission lines of 3,360 ckms and 3 substations of 7,000 MVA capacity across 9 states in India.
For more details, please visit www.indigrid.co.in
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