IRB InvIT distributed Rs 90 cr cashflow to unit holders

The Trust reported a revenue of Rs 151 cr and EBITDA of Rs 123 cr

In its first, IRB Infrastructure Investment Trust (InvIT) on Monday declared a Rs 90 crore worth distribution of cash flow to its unit holders.

"We are happy to announce the first distribution to the unit holders of Rs 1.55 per unit. This translates into annualised payout is 12.6 per cent, which is in line with our expectations. We would endeavour to make distribution every quarter as against the minimum stipulation of half yearly distribution," the company said in its statement on Monday.

IRB InvIT also declared its results on Monday. The Trust reported a revenue of Rs 151 crore and earning before interest, tax, depreciation and amortisation or Ebitda of Rs 123 crore and a distributable cash flow of Rs 96 crore.

IRB Invit is India's first infrastructure investment trust. The Trust owns, operates and maintains a portfolio of six toll road concessions with an aggregate value of Rs 5,921 crore, in Maharashtra, Gujarat, Rajasthan, Karnataka and Tamil Nadu.

The sponsors for the Trust, IRB Infrastructure Developers, have also offered a 100 per cent stake to the Trust in its Pathankot-Amritsar project and will now be considered by the Trust. "The Board of Investment Manager of IRB InvIT Fund also considered an Offer for Sale by Sponsors of the Trust, IRB Infrastructure Developers Ltd., of 100 per cent stake in their Pathankot-Amritsar Project and has approved the appointment of independent consultants to conduct due diligence and undertake various relevant activities with a view to take up the matter further before the Board and the unitholders," IRB Invit said in its statement.