IndiGrid Q3 FY19 EBIDTA up by 32% at Rs. 1553 Mn

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 Rs. 1,710 million for the quarter, up 35% YoY. The consolidated EBITDA for the quarter was Rs. 1,553 million, up 32% YoY.

The Board of Sterlite Investment Managers Limited acting as the Investment Manager of IndiGrid approved DPU of Rs. 3.00 for Q3 FY19 payable as interest to unit holders. IndiGrid is on track to achieve its stated DPU guidance of Rs. 12.00 per unit for FY19.

Commenting on the quarterly results and developments, 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 Rs. 18.56 per unit totaling to Rs. 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.